Pinterest reaches 450 million monthly users, will focus on making videos shoppable

News Summary

  • To make short videos more engaging, in October, Pinterest partnered with major labels like Warner Music Group, Warner Chappell Music, Merlin, and BMG to let users add licensed music to their clips.Other big names in the short video world are also looking at different ways of monetization.
  • In June, TikTok started experimenting with a dedicated shopping feed to highlight products.In December, Amazon launched a new feed called Inspire, which is a mix of short videos and photos to give users ideas about shopping.
  • The company believes that just like it made use of images in a unique way, it would be able to do something remarkable with video.
  • Later in July, the social network also brought support for video assets in product catalogs.
  • At that time, the company noted that apart from generating clicks, companies could also use the format to generate brand awareness.
  • To that end, we’re making video content on Pinterest more actionable using the same playbook we applied to static images.
Pinterest said during its latest earnings call that the service now has 450 million monthly active users globally, a 4% jump yearonyear. The company noted that while the user base in the U.S. and C [+3146 chars]