Pinterest has posted its Q4 and full-year earnings for 2022, and the results show a steady increase in both users and revenue. The platform added five million active users, with most of them coming from Europe, which is a positive sign for the company. Pinterest lost users in early 2021 after the COVID-induced boom in e-commerce activity, but it is slowly building back up again as it continues to refine its solutions around evolving shopping behaviors, including video content.
Pinterest’s big winner has been Idea Pins, its full-screen, swipeable video content option. This format has helped increase the platform’s appeal among younger audiences, with Gen Z being the fastest-growing demographic on the platform. Pinterest also reported a 30% increase in overall video supply, indicating the popularity of Idea Pins.
The company’s revenue has been steadily climbing, with a 4% year-over-year increase in Q4 2022. While its revenue splits are concerning, Pinterest is still expanding its ad and business offerings into new regions, providing potential for generating much bigger revenues in the future.
Pinterest remains focused on shopping and highlighting relevant products to users, with its recommendation engine providing better content matches to more users every day. It is also investing in live-stream shopping and developing more presentation tools for Idea Pins to capitalize on engagement.
Marketers interested in reaching customers on Pinterest can use the platform’s Trends feature to search for the most popular Pin trends by region.
