Pinterest’s latest financial results reveal that this particular social-media platform is in rude health. Its monthly active users were up 11% year-on-year to 578 million – its latest record total – while its revenues grew by 17% to $998m.
CEO Bill Ready also highlighted one of the trends underpinning this: “Gen-Z has grown to over half of our user base,” he said in the financials announcement. “We’ve found our best product market fit ever by becoming a personalised shopping destination for users and an AI-powered performance platform for advertisers.”
In Pinterest’s earnings call, he waxed lyrical on Pinterest’s Gen-Z growth. “The visual nature of our platform is particularly attractive to Gen Z, who’s been raised on an Internet of visual content and thus seeks out information differently than other generations,” he told analysts. “We’ve built a platform that is deeply resonating with the next generation of users and shoppers who are influential tastemakers, content creators and a lucrative audience for advertisers to reach.”
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