Pinterest has announced a new expansion of its Creator Fund program, which is designed to help support Pinterest creators in building a presence on the platform, and monetizing their Pin efforts, in order to keep them posting more often.
Initially launched in April last year, Pinterest’s Creator Fund has already helped a range of Pin creators to boost their presence in the app, with participants seeing 2.9x more Idea Pin impressions, on average, while increasing their overall monthly views by 72%.
Now Pinterest will look to support even more creators through the initiative:
“Through cash grants, ad credits and equipment, Pinterest will invest $1.2 million in underrepresented creators. The first of four cycles in 2022 is focused on Fashion and Beauty, and is sponsored by L’Oréal USA.”
The updated program, which, as Pinterest notes, will be focused on creators from underrepresented backgrounds, will include four Creator Fund cycles, with a different focus each quarter.
The first elements of focus are:
Pinterest says that the more specific, topic-based approach will enable deeper learning for the chosen creators in each field, while Pinterest is also extending the training program from four weeks to five to provide even more opportunity for insight and development. The participation of L’Oreal, and other sponsors, will also provide further industry knowledge.
In addition to the program’s extension, Pinterest is also looking to make the Creator Fund available to more regions later this year. At present, the Creator Fund is only available to participants in the US, but soon, it will be open to even more applicants – and when you consider that the vast majority of Pinterest’s audience is based outside the US, that’s another key step.
As per Pinterest:
“Through object detection with computer vision technology, Hair Type Search allows users to refine searches with six different hair patterns: guard, coiled, curly, wavy, straight, and shaved/bald. This means that when a user performs a broad hair-related search, such as “hairstyles” or “hair color ideas,” they can narrow down the search by selecting one of six different hair patterns. Pinterest detected a hair pattern (protective, coiled, curly, wavy, straight, and shaved/bald) in over 500 million images on our platform.”
The Creator Fund forms another element of its expanded approach on audience inclusion and support, while also enabling Pinterest to ensure top creators get more specific benefits – which, ideally, will keep them more aligned to the app, and creating more content for their audience.
Which is part of the larger ‘Creator Economy’ focus that has all social apps now seeking to maximize appeal to top stars. Without your most popular creators, you’ll lose audience share, and as each app looks to sweeten the deal for top creative talent, that then ups the ante for every other app, in maintaining links with its own audience.
Pinterest seems like a more niche offering in this respect, but as more app functions become more aligned – i.e. each app adopting Stories, short-form video, etc. – that also means that the skillset required for creators to succeed in each app also becomes increasingly similar.
As such, a top creator on Pinterest could very well become a top creator on Instagram too, where they could earn more money from Instagram’s more established monetization framework.
Pinterest needs to negate that where it can, which is why its Creator Fund is such an important element of its broader growth strategy.
You can learn more about Pinterest’s Creator Fund here.
YouTube Tests Disappearing Community Posts, Expands Access to Membership Gifting
YouTube is testing out a new post type within its Community Posts element, while it’s also expanding access to ‘Membership Gifting’, which provides another way for creators to boost their audience in the app.
First off, on disappearing posts – YouTube’s running a new experiment that will enable selected creators to set a time limit on their Community Posts in the app, which will see those updates disappear after 24 or 72 hours.
As you can see in this example, the new option will enable you to set an expiration date for a Community Post, which will then see it automatically erased from view after that time.
YouTube says that creators have been seeking more ways to enhance engagement within the Community Posts element:
“We’ve heard from creators that they would like the ability to share content that is only available for a short period of time – for example, a special time-limited discount on merch or a special message for fans that manage to catch it before it expires.”
YouTube’s Community Posts, which it opened up to all channels with over 500 subscribers in September last year (down from 1,000 subs previously), enable creators to share text-based posts – which can include polls, GIFs, images, and video – within their Community tab.
That provides another way to extend your community-building efforts beyond video content and subsequent comments, which is more aligned with the engagement that you’ll find on in other social apps.
And soon, you’ll also be able to share disappearing posts too – though the initial test is only running with selected creators on Android devices to begin with.
“Viewers will be able to see that a post will expire in x hours at the top of the post in the community tab, and creators will see their expired posts in the ‘Community’ tab under the ‘Archived’ chip once it has expired. Creators can’t re-share expired posts, but we are planning on adding that functionality in the future.”
On another front, YouTube’s also expanding access to its ‘Membership Gifting’ option, which enables Channel members to purchase gift memberships, which are then distributed to other viewers who are not subscribed to the channel.
Which may seem a little odd, but the idea is that this is a support measure for creators, not a gift for friends, as such, providing a means to both give the creator revenue (as they get the usual cut from gifted memberships), while also helping them to boost their audience in the app.
“Up until now, gifting memberships was in a limited beta stage only, and only accessible by a small number of creators. But with this launch, we’re expanding the number of creators that have access to gifting memberships. And as a creator, you can buy gift memberships for your community without becoming a member yourself.”
To be eligible for the program, Channels need to have memberships enabled at a level of $4.99. Viewers also need to opt in to receive gifts during a stream, which they can do by tapping on the ‘Allow Gifts’ prompt in the chat on an eligible broadcast.
It could be a handy option for building community in the app, and with many YouTubers inspiring legions of passionate fans, you can imagine that some will be more than happy to participate in helping to grow their favorite creators’ following.
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