In 2020, with the pandemic occurring and lockdown being implemented throughout the world, the use of social media applications saw a massive rise. Among all social networks, one very aesthetically pleasing platform saw a massive monthly active user rate, that too continuously.
Pinterest, in 2020 saw massive increase in active numbers and generated decent revenue. This was because everyone around the globe were at home and with a bunch of extra time on hand, the talent within people was oozing out. Some were renovating their kitchens, doing a complete bedroom change or just simple touchups in the house or backyards and the one lace they all went to for inspiration was obviously Pinterest.
However, with the lockdowns lifted, vaccines rolling out and the world returning back to normal, the monthly active Pinterest users saw a decline, for a few quarter consecutively.
Despite less users and the active users falling by 2 percent from the previous quarter, Pinterest revenue climbed by 46 percent from last year and its net income rose to $94 million.
The company managed to increase its revenue and profit numbers by managing to generate more money from each user.
However, though Pinterest has managed to keep its revenue intact, the loss of monthly active users in Q3 2021 has shown Pinterest in the bad light when it comes to investors and marketing.
With Pinterest losing its active users usage strength continuously for two quarters investors seem concerned about the application and its future, and the marketing companies are not using it as the number one place for marketing and advertisement.
Pinterest believes that the loss is due to a lot of reasons, with people resuming back to their normal routines and not have timing for renovations and decoration. However, from its point of view, one aspect which has greatly influenced the decrease in the active user count is the Apple’s new Transparency Tracking which has limited Pinterest from tracking users’ data, which happened to be its main source of targeting their desired and liked content to them.
Read next: Pinterest steps up their game and introduces a live shopping feature which will offer reviews and great discounts
Pinterest, in 2020 saw massive increase in active numbers and generated decent revenue. This was because everyone around the globe were at home and with a bunch of extra time on hand, the talent within people was oozing out. Some were renovating their kitchens, doing a complete bedroom change or just simple touchups in the house or backyards and the one lace they all went to for inspiration was obviously Pinterest.
However, with the lockdowns lifted, vaccines rolling out and the world returning back to normal, the monthly active Pinterest users saw a decline, for a few quarter consecutively.
Despite less users and the active users falling by 2 percent from the previous quarter, Pinterest revenue climbed by 46 percent from last year and its net income rose to $94 million.
The company managed to increase its revenue and profit numbers by managing to generate more money from each user.
However, though Pinterest has managed to keep its revenue intact, the loss of monthly active users in Q3 2021 has shown Pinterest in the bad light when it comes to investors and marketing.
With Pinterest losing its active users usage strength continuously for two quarters investors seem concerned about the application and its future, and the marketing companies are not using it as the number one place for marketing and advertisement.
Pinterest believes that the loss is due to a lot of reasons, with people resuming back to their normal routines and not have timing for renovations and decoration. However, from its point of view, one aspect which has greatly influenced the decrease in the active user count is the Apple’s new Transparency Tracking which has limited Pinterest from tracking users’ data, which happened to be its main source of targeting their desired and liked content to them.
Read next: Pinterest steps up their game and introduces a live shopping feature which will offer reviews and great discounts