App Engagement Decline

You're the Product Manager for a short-form video app that has gained traction in the past year, reaching 5 million daily active users. The app's main feature is a continuous feed of 15-second user-generated videos.

In the past month, the average watch time per user has dropped from 45 minutes to 41 minutes daily. This decline is consistent across all user segments and geographies.

→ What are your top 3 hypotheses for this engagement drop?
→ What data would you need to validate each hypothesis?
→ How would you prioritize which hypothesis to investigate first?

See hint