Pinterest announced today that it’s expanding its Creator Fund for underrepresented groups to five more countries, including Canada, Germany, Austria, Switzerland and France. The company debuted its $500,000 Creator Fund in 2021, and announced an additional $1.2 million for the fund last year. Pinterest told TechCrunch in an email that it has invested a total of over $2.3 million in cash grants and ads credits for this specific program.
The fund focuses specifically on supporting creators from underrepresented groups by offering both financial and educational resources.
Pinterest says that since its inception, the fund has provided support to dozens of Creators from the United States, the United Kingdom and Brazil, noting that they have received training and insights from experts in the field, personalized consulting and a financial grant in cash and ad credits.
“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 announcing its Creator Fund in April 2021, Pinterest last fall said it would invest $20 million toward Creator Rewards in the United States, which would pay creators directly for participating in “challenges.” The company then shut down the program last November.
The expansion comes as many companies have been rethinking and tweaking their creator programs. Meta committed $1 billion to creator bonus programs, but recently announced that it was pausing its Reels bonuses to creators on Facebook and Instagram.
In addition, TikTok recently launched the beta version of a revamped creator fund called the “Creativity Program.” The company says the program is designed to generate higher revenue and unlock more opportunities for creators. TikTok’s original fund launched in 2020 with a $1 billion commitment over three years, and has been criticized by creators who have complained about low payouts.
Source @TechCrunch
