Pinterest invests $20 million to pay creators

Pinterest is building up its social shopping products for advertisers, and giving creators more ways to monetize. During its second annual Creators Festival on Oct. 20, Pinterest announced it will start an in-product monetization platform for its creators, called “Creators Rewards.” Pinterest is investing $20 million over the next year to pay and support creators. To be eligible to apply for the Creator Rewards program, users must be based in the U.S., over 18 years old, have at least 1,000 followers, and have created three or more Idea Pins, which are video pins that creators could add affiliate links to and partner with brands for sponsored content. Creators can receive reward funds in two ways, one of which is through prompts based on trending topics on Pinterest — such as fall fashions or Thanksgiving tablescapes — that have attached goals aimed at driving engagement. There is no cap on the number of prompts creators can participate in, and there is no cap on the amount of money a creator can make through the rewards, as long as their content meets the eligibility criteria. Pinterest is also providing microgrants through a specific reward goal called Passion Project. These small grants are for projects that creators are passionate about or want to bring to life without having to pump out tons of content. For example, a creator could do a room makeover, art project or start a garden. They’ll need to share three Idea Pins documenting the process and final result. Participants are limited to one grant of $150 per project per month. This builds on Pinterest’s Creator Fund that it started in April of this year. The Creator Fund focused on helping creators from underrepresented communities with financial and educational support. In July, Pinterest rolled out Idea Pins and today announced that it’s expanding its product tagging tool to include the Amazon links. The new features come as the social media platforms work to become more shoppable, and give advertisers more ways to tap into creators. Pinterest has been working to make more of its surfaces shoppable. It recently introduced Slideshow for Collection pins that automatically create a dynamic ad which shows multiple products. It also rolled out Idea Ads, which allow creators to make Idea Pins in partnership with a brand. “We want to be the best place for the new generation of creators,” said Andréa Mallard, chief marketing officer, Pinterest. “We’ve been building these new features with creators based on what they do and do not like on other platforms. We also want new creators to feel welcome. They don’t need millions of followers to get their foot in the door.” Pinterest also is launching an original content series called "Creator Originals," which will be made up of a series of Idea Pins from famous creators, including Peloton instructor Ally Love, chef Joshua Weissman and interior designer Mat Sanders. One hundred creators across 10 countries will participate. From October until January 2022, each creator will release a series of original Idea Pins on a specific theme meant to educate Pinterest users, such as how to do an at-home manicure. Users can find the new programming in the Daily Inspiration section on the search tab starting tomorrow. Users can view individual Idea Pins in the series, or they can watch them sequentially. Pinterest is also rolling out new product features to make creator content more shoppable. Creators will now be able to add a “Try on” sticker on pins for lipsticks, using the platform's AR try on feature for lipstick and eyeshadow. Creators will be able to choose from 10,000 Try on-enabled beauty products that they can add to an Idea Pin. Pinterest is also taking a page from TikTok by rolling out a “watch” tab of full-screen video Idea Pins. There will still be a static “browse tab.” Building on the platform’s move to more video, Pinterest will have another new feature called Takes, which lets other creators and users react to video pins by sharing how they styled an article of clothing, or how they adjusted a recipe. Similar to a stitched video on TikTok, responses will link back to the creators’ original Idea Pins, and creators can also highlight top takes from users. To promote Takes, Pinterest will kick off a global campaign called “Create Your Take” featuring Jennifer Lopez, Megan Thee Stallion, and Storm Reid. Each celebrity will share an Idea Pin and encourage users to share their Takes. The pins will run the gamut from Halloween to pet fashion. The activation will run from this October to March 2022 in the U.S., Canada, U.K., Australia, Germany, and France.

Pinterest invests $20 million to pay creators

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