|Pinterest Says It's Making a 'Bigger Bet on Video,' Debuts Promoted Videos
Image-first platform Pinterest is making a big move into video.
The company on Wednesday introduced Promoted Video ads, allowing users to expand its existing, animated Cinematic Pins to access a full auto-play video with sound. Brands can display six Buyable Pins beneath each video as it plays.
According to two different agency executives, Pinterest is offering the units for a minimum of $500,000, with CPMs -- or cost per thousand impressions -- ranging from $15 to $20.
Video, as Pinterest puts it, will now be a "core part" of its user experience.
"This is a focused effort from the company to make a much bigger bet on video," said Jon Kaplan, head of global sales at Pinterest. "Things are going to change pretty dramatically in the coming quarters as we get more serious on the core user experience, ingest much more video content than we've ever done before and by making video much more discoverable on the platform."
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This was originally published on AdAge. A link to the original story follows this post.
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