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2
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· Posted on
February 21, 2024

Pinterest is doing okaaaay but the CEO reckons becoming more like TikTok is the way forward

Pinterest had its lowest revenue growth in two years, so now it's planning to follow TikTok's path.

What's the key learning?

  • Pinterest's revenue is up 9% year on year at US$665.9 million, but it was its lowest revenue growth in two years
  • The CEO told investors that Pinterest is moving towards the hot new trend of 'recommendation media'
  • Recommendation media is content recommended to you based on what the algorithm thinks you will like

👉 Background: Pinterest is the social media company that turned mood boards into so much more - like holiday inspo and collections of inspirational quotes.

👉 What happened: Pinterest’s revenue is up 9% year on year at US$665.9 million. But it was actually Pinterest's lowest revenue growth in two years.

👉 What else: Throw in no user growth and it could have had investors concerned. But the new CEO has told investors that Pinterest is moving towards the hot new trend of 'recommendation media'.

What's the key learning?

💡Recommendation media is content recommended to you based on what the algorithm thinks you will like… rather than what you’ve said you like. TikTok is a prime example of this.

💡While not everybody loves it (*cough* Kylie Jenner). recommendation media is looking like it might be the future of social media.

💡TikTok has over a billion monthly active users and if Pinterest wants to grow from its 480m users - the writing may just be on the wall.

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