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 on your partnership. We’re dedicated to exploring extra methods that can assist you discover success on Pinterest and we’re trying ahead to discovering extra alternatives to work collectively in 2023,” Pinterest mentioned in a be aware on its creator rewards help page.
The rewards program requested individuals to create Concept Pins — a video format introduced by the company last year — primarily based on a month-to-month theme to earn money.
The announcement, first reported by The Information, additionally mentioned that Pinterest pays a one-time bonus to creators who participated in no less than one reward aim for August, September, or October 2022. The corporate didn’t specify the bonus quantity on the Creator Rewards web page.
Pinterest mentioned that it’s closing this program “to be able to concentrate on different creator packages and options.” Final yr, when the corporate debuted Creator Rewards, it mentioned it deliberate to invest $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 challenge to assist creators from underrepresented communities via money and advert rewards.
Pinterest continues to be persevering with with packages 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 cost packages in latest instances. Final month, Snapchat reduced its payouts to creators from thousands and thousands of {dollars} per week to thousands and thousands of {dollars} per yr. In September, Meta introduced that it’s closing its Live Shopping program to focus on reels. On the identical 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.
