Pinterest’s video push boosts Gen Z engagement | WARC | The Feed
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Pinterest’s video push boosts Gen Z engagement
Pinterest, the image sharing and social media service, is seeing accelerated interest from Gen Z even in a softening advertising market, according to company executives.
Gen Z was once again the fastest-growing cohort for Pinterest in the most recent quarter, growing double digits year-on-year.
By the numbers
- Pinterest grew global monthly active users in Q4 to 450 million, up both sequentially and year-over-year.
- Global mobile app users account for over 80% of impressions.
- Pinterest generated advertising revenue of $2.8 billion for the full year, growing 9% or 11% on a constant currency basis.
- In 2022, Pinterest advertisers adopting a multi-objective media strategy saw up to a 50% improvement in sales lift.
Video drives deeper engagement
“We're building an experience that resonates with this audience on Pinterest, specifically around video. In fact, nearly half of all new videos pinned in Q4 were from Gen Z users. And in Q4, Gen Z sessions grew much faster than sessions from our other demographics,” said CEO Bill Ready on its recent Q4 2022 earnings call.
The company recently announced a deal with Condé Nast Entertainment to create high-quality video content aligned with Pinterest's key seasonal and cultural moments, such as fashion months, wedding season, summer and back-to-school.
“We remain focused on growing our supply of videos from multiple sources, including creators, brands and publishers,” Ready said. “Last quarter, we grew our supply of video content 30% quarter-over-quarter … We believe high-quality and inspiring content will further deepen engagement, especially for Gen Z.”
Increasing monetization per user
Pinterest is also looking to boost monetization per user through its advertising initiatives, said the CEO. “Pinterest is unique because users come to our platform with intent, and we are one of the few places where people can go from seeking inspiration to fulfilling that intent through action.” He added that the platform had built a “full ad solution” that helps advertisers meet users in their journey across the funnel, from top to bottom.
“In fact, our revenue is roughly split across the funnel with one-third brand, one-third consideration and one-third conversion. We've seen advertisers who take a full funnel approach see more success than those who are only active on one campaign objective,” Ready said.
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