Pinterest has shared its latest performance update, showing steady increases in both users and revenue as the platform continues its push to maximize its business opportunities in more regions.
First off, on users – Pinterest is now up to 478 million monthly actives, a 30% increase year-over-year.
Which is a good result, but as you can see, the platform’s growth momentum has slowed on what it had been seeing throughout 2020.
In some ways, that’s to be expected. The sudden increase in focus on eCommerce saw Pinterest benefit from a significant surge, as it replaced regular mall visits for shopping, providing connection to a broad range of artisan goods aligned to user interests. With physical stories re-opening, it seems likely that Pinterest will lose at least some of that momentum, and 30% YoY growth is still significant. It’s just a little down on what Pinterest had been seeing, which could impact market perception.
Even so, 478 million MAU is a huge amount. That puts Pinterest usage higher than Twitter, LinkedIn and Reddit, with likely only TikTok and Facebook/Instagram currently beating it (though direct comparison is difficult given that each platform now reports different usage data).
Still, Pinterest isn’t a social media network, as it has repeatedly stated, with the real focus of the app now on product discovery. And that focus should be reflected, ideally, in its average revenue per user stats.
As you can see here, Pinterest’s ARPU stats continued to grow…