This week in social media news, Pinterest reports 367 million monthly active users in Q1, YouTube announces plans to live stream a virtual graduation ceremony with the Obamas and Twitter says it’s testing a tool that lets users self-edit tweets that include harmful language.
Pinterest Reports 32 Million More Users In Q1
Pinterest’s Q1 2020 report shows that the platform’s increased usage during lockdown has led to an added 32 million users since Q4, bringing its total monthly active users (MAU) to 367 million.
Why it matters: Pinterest’s MAU saw a 9.55 percent quarter-on-quarter growth rate, outpacing the same figure at Twitter (9.21 percent), Snapchat (5 percent), Facebook (4.20 percent) and LinkedIn (2.22 percent).
The details: Pinterest reports a 35 percent year over year increase in revenue, at $272 million. Like LinkedIn and Twitter, however, Pinterest says it saw a sharp drop in March due to changes in advertiser behavior. Pinterest notes that video, conversion optimization and shopping ad products drove its ad revenue growth for the quarter. Searches for how to educate and entertain kids, how to clean during quarantine, what food to put in the pantry and how to make masks, have increased significantly, says Pinterest.