Pinterest Announces New Google Ad Partnership

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Pinterest Announces New Google Ad Partnership and Gains More Users in Q4

Pinterest Announces New Google Ad Partnership and Gains More Users in Q4 (1)

Pinterest announced that it has gained more users in the 4th quarter of 2023. At the same time, it also officially announced its partnership with Google, helping to boost its monetization potential.

In the 4th Quarter of 2023, Pinterest gained 16 million monthly active users, leading it to 498 million monthly global active users.

Out of these new users, only 1 million counted as the North American audience. The rest of the users came from other regions of the world. The positive impact is that more of its audience came from the EU, where the number of users fluctuated and even declined at some points in the past year.

At the same time, it is still adding more users from the regions, including Mexico and Brazil. Another worth noting fact is that its revenue per EU user is still nowhere near what it earns from its US users. For the quarter, the revenue increased by 23% year-over-year, and 15% in total for the year.

It has been revealed that Pinterest generated $981 million in the 4th quarter, which is considered lower revenue than expected. On the other hand, Pinterest CEO, Bill Ready, announced that Pinterest is going to make a new partnership with Google, helping them raise more interest in their future outlook.

Ready declared that the main focus of this partnership is to monetize several of their currently unmonetized countries or international markets. They will authorize ads that will be operated on Pinterest through Google Ad Manager. He said that the company had gone live a few days ago and it’s been started to storm. He further declared that third-party ad requests are grading as they were expecting.

He further explains that the non-US users of Pinterest are comprised of 80% of the platform’s total users. However, the share of revenue of this 80% audience is calculated to be 20% only. So the Google partnership in these international markets will assist in an expansion of the average income per user.

Besides revenue, the CEO also highlighted the efforts made by the company to make a strong engagement between users and the platform. For this purpose, AI integration and new formats are designed and launched.

In further explanation, Ready said the company introduced a collage feature, allowing Pinterest users to use objects and stickers to create a new image. The option is available for the worldwide iOS users. The authority revealed that around 75% of colleges demonstrate a shoppable product pin. However, there is no statement about conversion data.

Ready also explains that the generative AI-supported search guides proposed by the company help users improve their searching, getting them closer to the point of action or purchase.

While taking a look at further efforts made by the company, we found that the company is continuously trying to bring improvements, making it a more user-friendly platform. For example, Pinterest recently released its forecasts for 2024 trends by using in-app engagement data. It will help marketers or businesses to create more engaging and relevant content, helping them generate more revenue.

For all further updates regarding Pinterest, keep visiting Social Consulter – a gateway towards the latest updates on social media trends. Whether it is about creating a new social media marketing campaign, or evaluating the latest trends in the market, Social Consulter has something for everyone.

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