Pinterest, for the first time, is offering mobile-only video advertising on the platform. It announced on Wednesday that advertisers in the U.S and UK can now purchase promoted videos. Every social networking site is moving towards video, as is evident from the improvisations made by giants such as Facebook and Twitter for videos, since the start of the year. Experts predict that the budget for digital video ads in 2018 would be $12.82 billion, up from $7.7 billion last year. Hence it makes sense that a platform such as Pinterest, where users are crowding to buy all kinds of stuff, from hair and make-up products to furniture, to move towards video advertisements.
Pinterest had introduced Cinematic Pin last year, which will be used to play frames from the videos while users scroll through their news feeds. If people tap on these frames, they could view the entire video. It is different from Facebook’s and Twitter’s video ads in that, the entire video doesn’t begin to auto-play as users scroll down their feeds. The video frames on Pinterest will play (on mute) at a speed relative to scrolling speed of the user.
Pinterest currently has over 100 million monthly users and the company claims that the videos on the platform have increased by 60 percent over the past year. Also, about 55 percent of people on the platform shop for products, against a mere 12 percent of the users on other social networks. The video ads on Pinterest will make it possible for brands and businesses to put up to six product pins below the video. According to the platform, advertisers will be charged for every 1000 impressions. Brands will be given details around the number of impressions, views and clicks for the videos, and will be provided with data on how long these users viewed these videos. The featured pins, however, can be used for no additional cost.
The length of the video ads can be a maximum of five minutes, and the video can be formatted horizontally, vertically or as a square. The feature is only available for mobile at the moment, since over 80 percent of the users on the platform access the platform using mobile. The company currently does not hold plans to expand to web.
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