Compared to other platforms, Pinterest is the place for curious and creative minds to float in. It has videos, images, gifs, and more to inspire users. Whether you are into art, fashion, or marketing, Pinterest has you covered with loads of creative content.
In this blog, you will find 35 facts and figures about Pinterest that can help you to use this platform in a better way for marketing. Through this platform, you can create creative content and build brand awareness among the audience.
1. In Q3 2023, Pinterest achieved a revenue of $763 million, reflecting an 11% year-over-year growth.
2. During the same quarter in 2022, Pinterest recorded $685 million in revenue.
3. GAAP net income for Q3 was $7 million.
4. Pinterest incurred total costs and expenses amounting to $768 million..
5. Compared to the previous year, Pinterest experienced a 110% decrement in its net loss. Also, there was an impressive 153% rise in NON-GAAP Net income.
6. Globally, Pinterest averaged $1.61 in revenue per user during Q3.
7. Cost of revenue increased 7% year on year.
8. Globally, average revenue per user increased 3%.
9. Compared to other social media platforms, Pinterest ads are 2.3 times cheaper per conversion.
10. Adjusted EBITDA was $185 million for Q3 2023.
Source – Earning Report
Pinterest’s revenue is on a roll, and here’s why:
New users are hopping on board every day. This image-based platform serves as a wellspring of inspiration. Pinners not only create visually appealing pins but also influence others to do the same.
11. In the latest report for the last quarter, Pinterest experienced an 8% increase in global monthly active users (MAUs), with Gen Z contributing the most to this growth.
12. Pinterest has a total of 485 million global MAUs, which is a record high for the company.
13. The majority of Pinterest’s revenue, $618 million, comes from the US and Canada.
14. Interestingly, from 485 million MAUs, there are only 96 million users from the US and Canada.
15. In Europe, Pinterest attracts 128 million MAUs, but the revenue generated from this region is comparatively lower at $114 million.
16. Interestingly, most MAUs (258 million) come from the rest of the world, but the revenue from this segment is modest, at $31 million.
17. 60% of total Pinterest users are women and 40% are men.
18. 1/3rd of total MAUs are GenZ, falling in the age bracket of 18 to 24.
19. Pinterest has introduced a new “more ideas” tab on the top of the home feed to help users in easy access to the board themes.
20. With 78 index points, Pinterest is topping the American Customer Satisfaction Index (ACSI).
Recent reports show that Pinterest is taking inspiration from Gen Z due to their increased engagement on the platform. It is the growing cohort for the platform.
However, Pinterest is not just used by Gen Z to share their creative stuff but, it is also used by businessmen to promote their products.
Source: Pinterest Earnings Report
21. Pinterest launched Direct Links in Q3 and has migrated approximately 60% of lower funnel revenue to Direct Links.
22. Pinterest also noticed 88% higher outbound click-through rates and a 39% decrease in cost per outbound click for CPC objectives from early Direct Links adopters.
23. Recent cohorts on the platform are 2x more likely to save something as compared to the older ones.
24. In Q3, Pinterest partnered with Adobe Commerce and Salesforce Commerce Cloud to help drive more adoption of API for Conversions.
25. 70% of total product recommendations in the “Shop the Look” are tagged as exact or highly relevant matches.
26. Pinterest now allows third-party ads, and their first partner in this venture is Amazon.
27. Amazon ads 3P partnership has led to over 50% improvement in relevance on search and a 100% improvement in relevance on related items.
28. Pinterest moved the Premiere Spotlight ad format from search to the home feed.
29. Notably, during the first quarter, Pinterest observed increased engagement from monthly active users in categories such as men’s fashion, automobiles, health, and travel, making it an ideal platform for business owners to focus their advertising efforts.
30. Pinterest offers a 32% better ROAS (Return on Ad Spend), especially for segments like food, health, and beauty.
31. Pinterest noticed a 2x higher video completion rate as compared to an average video campaign.
32. API for Conversion solutions accounted for 28% of our total revenue as of August 2023.
Companies like the iPhone stay popular by constantly adding new features that match the changing needs of users. Similarly, Pinterest keeps things fresh by introducing new features to users every quarter.
Pinterest has millions of users, and it’s working hard to make the platform safer. This safety helps users feel more comfortable, which, in turn, attracts even more people to use it.
33. All things retro: 60s style make-up trends and 70s-inspired weddings are making a comeback. Youth is expected to prefer Jazz over electronic beats. Pinterest reports a supposed 180% improvement in Jazz aesthetic clothing.
34. Revamping Financial Services: Coins and cards are no longer excluded from the aesthetics. Credit cards and piggy banks are getting a makeover. Credit card stickers will see a 140% increase.
35. Cafécore on the rise: In 2024, Pinterest is expecting baby boomers and GenX to look up coffee chalkboard and coffee station decor aesthetics. Coffee bar styling will be up by 1,125%.
Source: Pinterest Predicts
Arushi is a proficient SEO and ASO specialist with a 5-year track record working for B2B and B2C organizations. Currently, she is heading SEO strategy for Vaizle and helping businesses improve their online presence. A mountain girl at heart, she likes to recharge her creative abilities by taking long walks and listening to podcasts.
Copyright @VAIZLE 2024
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