Pinterest Expands its Creator Fund for Underrepresented Groups to Five More Countries – Pinterest announced the expansion of its Creator Fund for underrepresented groups to five additional countries, including Canada, Germany, Austria, Switzerland, and France. In 2021, the company unveiled its $500,000 Creator Fund and announced an additional $1.2 million for the fund the previous year.
Pinterest said that it had contributed over $2.3 million in cash grants and advertising credits to this program. By providing both financial and educational resources, the fund focuses on aiding creators from underrepresented groups. Pinterest states that since the fund’s creation, dozens of Creators from the United States, the United Kingdom, and Brazil have received training and insights from industry professionals, individual counseling, and a financial award in the form of cash and ad credits.
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“Our mission is to bring everyone the inspiration to create a life they love, and inspiration is fueled by diversity of experiences, perspectives and communities,” said Zeny Shifferaw, the Creator Inclusion Lead at Pinterest, in a statement. “Expanding this program will unlock more opportunities for disproportionately underrepresented creators and content producers to gain financial support, exposure, resources and reach new audiences looking to be inspired by their passions on our platform.”
After unveiling its Creator Fund in April 2021, Pinterest announced in the fall of 2018 that it will invest $20 million in Creator Rewards in the United States, which would directly compensate creators for participating in “challenges.” The company discontinued the initiative in December.
The expansion comes at a time when numerous companies are reevaluating and modifying their creator programs. Meta pledged $1 billion to creator incentive programs, but recently announced that it was pausing its Reels bonuses to creators on Facebook and Instagram.
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In addition, TikTok has just unveiled the beta version of a revised creator fund known as the “Creativity Program.” According to the company, the program is intended to create more cash and open up additional chances for producers. Creators have criticized TikTok’s original fund, which debuted in 2020 with a $1 billion investment over three years, for its low rewards.