Pinterest has removed its Creator Rewards program, as reported by TechCrunch. Creator Rewards allows creators to earn simply by creating content around monthly prompts and achieving specific engagement goals.
(Photo : by Spencer Platt/Getty Images)
NEW YORK, NEW YORK - APRIL 18: A banner for the online image board Pinterest Inc. hangs from the New York Stock Exchange (NYSE) on the morning that Pinterest Inc. makes its initial public offering on April 18, 2019 in New York City.
On a note, "The Creator Rewards program will end on Nov. 30. To all the creators who participated, thank you for your partnership. We're committed to exploring more ways to help you find success on Pinterest and we're looking forward to finding more opportunities to work together in 2023," the platform stated.
A One-Time Bonus
Along with the announcement, the platform will pay a one-time bonus to creators who participated in at least one reward goal from August to October 2022. However, the amount wasn't specified.
Also read: Pinterest to Clamp Down on Climate Change Misinformation via Active Account Banning
The Reason Behind the Shut Down
Shutting down the program is said to let Pinterest focus on other creator programs and features. It should be noted that the program was launched last year with a $20 million investment. Besides that, the company launched a $500,000 Creator Fund last year, along with an additional $1.2 million this year into the project.
Despite the shutdown, other programs exist on the platform, such as the Creator Fund, paid partnerships, and shoppable Idea Pins.
Not the First Social Platform
Pinterest isn't the only social platform that is making changes to its creator payment program. It can be recalled that Snapchat did the same thing last month, in which the platform reduced creator payout from millions of dollars every week to millions of dollars per year.
In addition, Meta announced the closure of its Live Shopping program to clear the way for reels. Instagram also shut down its affiliate program, in which creators could gain a commission if users bought their tagged products through their posts.
Other Ways to Earn Money on Pinterest
What this means for product content creators is that you still have a few ways to earn money on Pinterest. This includes the Creator Fund, paid partnerships, and shoppable Idea Pins.
Creator Fund
The Creator Fund is a multi-million-dollar fund that helps Pinterest creators make original content, such as recipes, DIY, style, and fashion. You can apply here.
Paid Partnerships
Working with brands to contribute to their shoppable pins is the way to go if you want to build your following and earn money on Pinterest. While you can start looking for sponsored posts on your own, applying for the Paid Partnerships program is recommended.
Shoppable Idea Pins
Another way to make money is simply by creating shoppable pins for major brands, such as Macy's and Target.
Having a new way to earn money is important as not all social platforms are created equal. Pinterest is a great place to start with. The platform has an audience of more than 200 million people and is one of the most popular social media sites for discovering and sharing product content.
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