While Pinterest may not rival giants like Facebook and Instagram in terms of user base or revenue, it remains a compelling social platform worth investigating.
Focused on visual discovery and inspiration, Pinterest occupies a distinct niche within the social media landscape, offering unique opportunities for marketers and brands alike.
Pinterest boasts an engaged user base known for taking decisive actions, a formidable advantage that not all social networks, regardless of size, can claim.
In this article, we will delve into the latest facts and statistics that underscore Pinterest’s influence, user engagement patterns, advertising potential, and more as of 2024.
Let’s dive in.
Pinterest Overview
- In 2024, Pinterest ranks as the 15th most popular social platform worldwide, boasting over 518 million active users.
- On average, global users spend 1 hour and 45 minutes per month using Pinterest’s Android app.
- About 27.3% of Pinterest’s Android users access the app daily.
- These users typically open the Pinterest app around 48 times each month.
- Pinterest ranks as the seventh most visited social network in the United States, recording approximately 266 million visits in April 2024.
- Among its monthly visitors in the US, approximately 62.5% use desktop devices.
- US users spend an average of 11 minutes and 25 seconds per visit on Pinterest.
- Globally, Pinterest is the 28th most searched query, with a search volume of 72,120,000.
- Gen Z rates Pinterest more favorably compared to other traditional social media platforms in promoting and preserving well-being metrics such as “self-worth, belonging, and purpose.”
Pinterest Company Background
- Pinterest was established in March 2010 by Ben Silbermann, Evan Sharp, and Paul Sciarra, originating from the app Tote, initially conceived as a digital alternative to paper catalogs.
- Bill Ready serves as the current CEO of Pinterest.
- Pinterest’s headquarters are located in San Francisco, California.
- The company employs approximately between 1,001 to 5,000 individuals.
Pinterest Financial Performance
- By May 2024, Pinterest’s market capitalization exceeds $28 billion.
- Pinterest achieved $740 million in revenue during the first quarter of 2024, marking a 23% year-over-year increase.
- In 2023, Pinterest recorded revenue exceeding $3 billion.
Pinterest User Statistics
- In 2024, Pinterest boasts 518 million monthly active users (MAUs), marking a 12% year-over-year increase and firmly placing Pinterest in the “half a billion users” category.
- Gen Z constitutes over 40% of Pinterest users, with this demographic saving more content than any other group.
- Pinterest counts 98 million MAUs in the US and Canada alone.
- Across Europe, the platform attracts 140 million MAUs.
- The remaining 279 million MAUs are distributed across the globe.
- Pinterest’s user base is predominantly female, with women accounting for 79.5% of its audience.
- Thirty-five percent of adults in the US utilize Pinterest.
- In the US, women are notably more prevalent users of Pinterest compared to men, with adoption rates of 50% versus 19%.
- The largest demographic of Pinterest users falls within the 25-34 age bracket, totaling 81.9 million in 2023, constituting 30.9% of the company’s total advertising audience.
Pinterest Statistics By Location
- The United States leads globally in Pinterest’s audience, boasting over 90.1 million active users.
- As of April 2023, Pinterest’s global audience size comprises:
Pinterest Advertising
- In 2024, advertisers can reach a total of 317 million users on Pinterest.
- The primary reason people use Pinterest is to discover new products and brands.
- Approximately 36.8% of active Pinterest users cite following or researching brands and products as their main activity on the platform, a distinction not found on other social networks.
- Pinterest drives about 7.67% of web traffic to third-party websites, marking a 25.9% increase year-over-year.
- Pinterest experienced a 38% growth in ad impressions during the first quarter of 2024.
- Advertisements on Pinterest deliver a cost per conversion that is 2.3 times more efficient than those on other social media platforms.
- Retail brands achieve double the return on ad spend (ROAS) with Pinterest ads compared to ads on other social media platforms.
- The largest segment of Pinterest’s advertising audience consists of female users aged 25-34 years old, comprising 20.3%. Close behind are female users aged 18-24 years old, accounting for 19.8%.
- Approximately 80% of weekly Pinterest users report feeling inspired by the shopping experience offered on the platform.
- Nearly all (96%) of Pinterest’s top searches are unbranded, underscoring users’ openness to discovering new ideas.
- Pinterest shoppers spend twice as much per month compared to users on other platforms.
Pinterest Content and Engagement
- Every week, Pinterest users save 1.5 billion Pins.
- Approximately 85% of weekly Pinterest users consider the platform their primary choice when embarking on a new project.
- Eighty percent of Pinterest users view the platform as a positive online environment.
- Pinterest users are engaged in shopping directly on the platform; 85% have made purchases directly from Pins.
- Around 80% of weekly users have discovered new brands or products on Pinterest.
Most Followed Pinterest Boards
These are some of the most popular Pinterest boards in 2024:
In Summary
While Pinterest caters to a somewhat specialized audience compared to broader social media platforms, it boasts a dedicated user base that frequently utilizes the platform for shopping, brand discovery, and daily inspiration.
In essence, Pinterest holds significant promise as a marketing tool for brands and marketers who understand how to harness its potential.
With these insights and figures, you can optimize your business strategy on Pinterest in 2024 to achieve favorable outcomes.
Original news from SearchEngineJournal