Pinterest Q1 2023 report is here and it does look promising in some way – Pinterest has reached 463 million users.
First off, on users – Pinterest added 13 million more users in the quarter, with its growth momentum accelerating in the new year.
Pinterest also says that it’s seeing more engagement, with sessions, impressions, and time spent growing faster than MAUs. And interestingly, Pinterest also notes that Gen Z is now its fastest growing demographic, another good sign for its future potential as a key discovery element.
In terms of revenue, however, the story is not as great.
In terms of key trends, Pinterest says that video content grew nearly 40% in the app in the period, reflecting the broader trend towards video across social platforms. Pinterest’s looking to help brands tap into this with improvements to its Idea Pins, along with the addition of new promotional options, like Premiere Spotlight, which enables brands to buy prime real estate on the Search tab.
From this report, it seems that revenue would be the key focus for Pinterest for the next quarter. Hope they do no come out with a subscription like Twitter!
You can read complete Pinterest Q1 2023 report here.
Pinterest Q1 2023 Report Pinterest Q1 2023 Report Pinterest Q1 2023 Report
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