MASHABLE- Pinterest may be a popular service with an estimated 47.1 million monthly users, but profitable? Not so much.
To help change that, the social network expanded its ad products on Tuesday by rolling out video ads called Cinematic Pins. Cinematic Pins work similarly to Pinterest’s current ad products, Promoted Pins, in that they’re formatted to blend in with other items in your home feed — except for the fact they’re motion-based. Gap, L’Oreal, Target, Unilever, Visa, Walgreens and Wendy’s are among the first crop of paid advertisers.
Pinterest is taking a slightly different approach to video ads compared to companies like Facebook. Whereas Facebook’s video ads usually start automatically (without sound) when they appear on a device’s screen and stop when you’ve scrolled past, a video in a Cinematic Pin moves in relation to how quickly a user scrolls through.
“Our view is that auto-play is interruptive,” Pinterest general manager of monetization Tim Kendall told Mashable. “Our new mobile ad format gives brands the ability to tell their story with motion. But critically important, it keeps users in control of the motion.”
The company also announced several ad-based tools for advertisers. For example, they can now be more specific with the kinds of audiences they want to target, taking users’ interests into account and how they engage with Pinterest. They can also recruit the help of a new in-house creative services team to do the heavy lifting and create ads for them.
Pinterest’s latest announcement indicates the social network is getting more serious about monetization. Earlier this year, the company raised more than $500 million in its latest round of funding to fuel global expansion, bringing the company’s total funds raised to a staggering $1.3 billion.
Last year, the social network announced Promoted Pins, its first major ad product, though Pinterest would not disclose how exactly Promoted Pins are faring.
Article by JP Mangalindan for Mashable
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