As part of its continued effort to expand its network of creators, and provide more exposure opportunities for listed products, Pinterest has announced a new strategic partnership with lifestyle content platform Tastemade, which will see Pinterest and Tastemade work together on new scripted shows, live-stream programming and in-person events around the world.
As per Pinterest:
“Today, we’re announcing a first-of-its-kind, multi-million dollar, global strategic partnership between Pinterest and Tastemade aimed at scaling creators, content series, and live streaming on Pinterest. The multi-year, multi-territory partnership commences immediately with initial programming launching later this year in the U.S., LATAM, Europe, and APAC.”
Tastemade, which has dedicated production studios around the world, creates video content for more than 300 million active viewers, who cumulatively consume more than 700 million minutes of clips on the platform every month.
Now, creators on Pinterest will also be able to tap into that network, via collaboration between the two platforms on new productions, activations and more, in various regions.
Indeed, Pinterest says that the agreement will see the production of 50 new Tastemade shows, which will debut exclusively on Pinterest, and will highlight Pinterest products and creators, via shoppable links and alerts. The deal will also deliver ‘hundreds of hours’ of new live programming for Pinterest TV, while Tastemade will also host a series of in-person creator events at their studios around the globe, including in Los Angeles, London, Tokyo, Jakarta, Mumbai, São Paulo, and Buenos Aires.
The partnership between the two platforms makes a lot of sense, and will help to scale Pinterest’s offerings to a much broader audience, which will no doubt see its shopping engagement increase.
Pinterest says that, already, Tastemade creates some of the most inspirational content on Pinterest, with Tastemade Pins driving 200% more saves than the average Pin – and with more video content being shared exclusively to the app, that will bring more viewers into the Pinterest ecosystem, which could have big benefits for many Pin creators.
It’s essentially a cross-promotional tie-up, linking the creation skills of Tastemade’s team with Pinterest’s ever-expanding collection of product Pins.
It could end up being a highly valuable partnership, for both platforms, and it’s interesting to see a social media app (or at least, a former social media app) establishing a direct and ongoing content partnership in this way. It’s similar to YouTube partnering with, say, Walmart on a live-streaming initiative, though on a broader, more permanent scale – and in some ways, it switches the dynamic, with the creative talent, in this case, provided by Tastemade, as opposed to the platform hosting the product listings for a third party app.
That moves Pinterest further into the eCommerce space, as it essentially now becomes a provider of product listings for Tastemade content.
Rather than relying on its own creator network, and social interaction, the deal will use established creative pros as a promotion vehicle in this respect.
It’ll be worth keeping an eye on how the partnership evolves over time.