Pinterest has shut down its Creator Rewards program that allowed creators to earn cash by creating content material round month-to-month prompts and attaining sure engagement objectives.
“The Creator Rewards program will finish on November 30, 2022. To all of the creators who participated, thanks in your partnership. We’re dedicated to exploring extra methods that will help you discover success on Pinterest and we’re trying ahead to discovering extra alternatives to work collectively in 2023,” Pinterest stated in a notice on its creator rewards help page.
The rewards program requested individuals to create Thought Pins — a video format introduced by the company last year — based mostly on a month-to-month theme to earn money.
The announcement, first reported by The Information, additionally stated that Pinterest can pay a one-time bonus to creators who participated in no less than one reward objective for August, September, or October 2022. The corporate didn’t specify the bonus quantity on the Creator Rewards web page.
Pinterest stated that it’s closing this program “with the intention to give attention to different creator applications and options.” Final 12 months, when the corporate debuted Creator Rewards, it stated it deliberate to speculate $20 million in this system. Individually, the corporate launched a $500,000 Creator Fund last year and injected an additional $1.2 million this year into the project. The social community created this mission to assist creators from underrepresented communities via money and advert rewards.
Pinterest remains to be persevering with with applications just like the Creator Fund, “shoppable” Idea Pins, and paid partnerships by converting Idea Pins into ads.
Social media firms have been continuously tweaking their creator fee applications in current instances. Final month, Snapchat reduced its payouts to creators from thousands and thousands of {dollars} per week to thousands and thousands of {dollars} per 12 months. In September, Meta introduced that it’s closing its Live Shopping program to focus on reels. On the similar time, the social media big additionally closed its Instagram affiliate program, which allowed creators to get a fee if customers bought tagged merchandise from their posts.
