Pinterest today announced it is expanding its Creator Fund for underrepresented groups to five more countries, including Canada, Germany, Austria, Switzerland and France. The company launched its $500,000 Creator Fund in 2021 and announced an additional $1.2 million for the fund last year.
The fund specifically focuses on supporting makers from underrepresented groups by offering both financial and educational resources.
Pinterest says the fund has supported dozens of creators from the United States, United Kingdom and Brazil since its inception, noting that they have received training and insights from experts in the field, personalized advice and a financial grant in cash and advertisements. credits.
“Our mission is to give 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 increase opportunities for disproportionately underrepresented content creators and producers to gain financial support, exposure and resources, and reach new audiences who want to be inspired by their passions on our platform.”
After announcing its Creator Fund in April 2021, Pinterest said last fall it would invest another $20 million in Creator Rewards in the United States, which would pay creators directly for participating in “challenges.” It’s worth noting that this effort is not considered part of the Pinterest Creator Fund.
It’s worth noting that Pinterest faces stiff competition for creator talent.
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. TikTok is now acknowledging these concerns with the launch of the new program.
YouTube announced a $100 million fund for Shorts creators last year and recently started sharing ad revenue with Shorts creators as well. Meta has also pledged $1 billion in creator bonus programs, but recently announced that it is pausing its Reels creator bonuses on Facebook and Instagram.