During his latest press conference, Pinterest stated that service matters now 450 million monthly active users globally, with an increase of 4% over the previous year. The company pointed out that while the user base in the US and Canada remained at 95 million, growth in other regions contributed to this milestone. Let’s find out all the details together.
New record for Pinterest: 450 million monthly users reached
The social media company, which debuted in 2021 with a product by short videos called Idea Pinsaims to grow its footprint on this format and to monetize it. Bill ReadyCEO of the company, during the press conference said:
“Long term, we also want to make every pin purchasable. To that end, we’re making video content on Pinterest more usable, using the same schema we applied to static images. Throughout this year, we will be using our computer vision technology on our video corpus to find products and videos and make them purchasable.’
Ready remembered that the video offer on the platform has grown by 30% thanks to Gen Z users, who have contributed to half of video pins on Pinterest in the fourth quarter. The good news for the company is that videos are contributing to a large portion of its revenue.
Idea Ads
Last June, Pinterest introduced the Short video advertising within the project Idea Ads. On that occasion, Pinterest pointed out that, in addition to generating clickscompanies could use this format for generare brand awareness. Later, in July, the social network introduced support for i videos in product catalogs.
To make short videos more engaging, Pinterest tightened up on October partnership with major record labels such as Warner Music Group, Warner Chappell Music, Merlin e BMG to allow users to add licensed music to their videos.
The company enlists the help of its team of artificial intelligence e you computer vision to identify products and trends within the videos, so that the platform can deliver better results for your search terms.