Pinterest witnessed a membership decline in 2021. From 459 million MAU in 2020, it was down to 431 million MAU. To win back creators and members, the platform relaunched its Creator Fund, a $500k funding program for under-represented communities of Pinterest. A creator code enforces the acceptance of guidelines to mitigate negativity during the program. Today, the Pinterest creator fund expands.
Pinterest will now be launching a new fund cycle every quarter. The total funding will now be at $1.2 million for the whole year. Each cycle will focus on different content areas. The first of the 4 cycles cover fashion & beauty, sponsored by L’Oreal USA. The other 3 cycles will cover wellness, lifestyle/home, and food. As Pinterest says, these topic-based approaches will enable deeper insights and learning.
Pinterest creator fund expands on 28 March 2022.
Implications for Marketers:
Pinterest creator fund has already helped creators boost their presence in the app. For marketers, the expansion of the Pinterest creator fund means more opportunities to partner with new creators in creating meaningful idea pins.
Reference: https://business.pinterest.com/en/blog/creator-fund-expansion-2022/
