The Pinterest Creators Rewards program, which serves as an outlet for monetization on the platform, will soon bid goodbye to the creators.
The image-sharing social service will close its doors to the program this Wednesday, Nov. 30.
Pinterest to End Creators Rewards Program
Before, the participants who took part in the Creator Rewards program were instructed to make unique Idea Pins as part of the newly-launched video format.
The rewards program will allow users to earn some money if they reach a particular goal for a specific month.
As The Information reported, Pinterest will give back one last incentive to the creators who can achieve at least one reward goal for the month of August, September, or October.
While it mentioned that a one-time bonus is waiting for them, Pinterest did not mention a specific amount of money that will be added to the Creators Rewards page.
"The Creator Rewards program will end on November 30, 2022. To all the creators who participated, thank you for your partnership. We're committed to exploring more ways to help you find success on Pinterest and we're looking forward to finding more opportunities to work together in 2023," Pinterest confirmed on the official help page of the Creator Rewards program.
Why Will Pinterest Shut Down the Program
In another story by TechCrunch, Pinterest says that the program will close to pave the way for the other existing programs and features on the platform.
Outside the Creator Rewards, Pinterest said that it invested $500,000 in the Creator Fund last year. The project also included an extra $1.2 billion in 2022.
The company aims to look forward to creators from "underrepresented communities." Pinterest says this is the opportunity to give back cash and ad rewards to the joiners.
Despite the sudden closing of the Creator Rewards Program, Pinterest said its other current programs would continue to run, including the "shoppable" Idea Pins," Creator Fund, and more.
If you're curious about how to create Idea Pins, check this link for more details.
Related Article : Pinterest To Become THE Internet's Shopping Mall as Google eCommerce Executive Takes Over
Social Media Firms Adjust the Creator Payment Programs
Aside from Pinterest, several social media platforms are making some adjustments to their creator payment programs.
For instance, Meta, the company behind Facebook, will improve the Reels at the expense of removing the Live Shopping program. It also ended the Instagram affiliate program, which gives commissions to creators every time users buy products from the social media feed.
Meanwhile, Snapchat reportedly slashed the payout for the creators through the Spotlight reward fund. For the second time, the company reduced this value from a weekly payment of $1 million to just a yearly payment of the same amount.
In other news, Social Media Today previously reported that Pinterest has officially added support for the languages in the app, including Bulgarian, Afrikaans, and Croatian.
Read Also: Pinterest to Clamp Down on Climate Change Misinformation via Active Account Banning
