Pinterest Makes Strategic Move into Connected TV Advertising
In a bold move to broaden its advertising reach, Pinterest has announced the acquisition of TvScientific, a connected TV (CTV) advertising platform. This marks Pinterest’s first foray into the CTV space, aligning with its strategy to expand beyond mobile and desktop platforms and into more diversified screen experiences. The financial terms of the acquisition were not disclosed, but the deal is expected to close in the first half of next year, pending regulatory approvals.
The integration of TvScientific into Pinterest’s advertising ecosystem will enhance the platform’s performance ad products, including those powered by its artificial intelligence suite, Pinterest Performance+. This union is designed to offer advertisers a clearer understanding of how CTV campaigns can boost their performance marketing efforts, creating a more seamless cross-screen advertising environment.
Unlocking New Advertising Potential
TvScientific is a startup that brings automation and advanced measurement tools to CTV advertising. Its platform claims to reach up to 95% of ad-supported video-on-demand audiences and uses a proprietary identity solution to link CTV ad exposure to actual business outcomes. The company will continue to operate under its own name following the acquisition, ensuring continuity for existing clients while benefiting from Pinterest’s vast user base and robust ad infrastructure.
The acquisition is not expected to significantly impact Pinterest’s financial results, suggesting a conservative investment approach. Initially, Pinterest plans to focus on scaling TvScientific’s capabilities within the U.S. market before considering international expansion, reflecting a phased growth strategy.
Combining Audience Insight with CTV Precision
Pinterest’s platform attracts over 600 million monthly active users, many of whom use the service for inspiration in areas like fashion, home decor, and shopping. Pinterest has been evolving into a more shoppable platform by integrating AI and its Taste Graph technology to deliver personalized recommendations. The addition of TvScientific’s CTV capabilities enables Pinterest to apply the same data-driven precision to television advertising, a medium traditionally seen as harder to measure and optimize.
“People plan and shop across multiple screens, and advertisers need performance solutions that reflect that reality,” said Bill Ready, CEO of Pinterest. “For the first time, Pinterest advertisers will be able to evaluate TV with the clarity they expect from their performance channels.”
This development positions Pinterest as a more holistic, multichannel advertising solution, appealing to brands looking for comprehensive platforms that integrate social, search, and now CTV marketing capabilities.
Enhancing Performance Marketing Opportunities
Performance marketing has become a key focus for advertisers as they seek to maximize return on investment across digital platforms. The integration with TvScientific allows Pinterest to offer measurable and targeted CTV advertising, utilizing its vast data on user intent and behavior. This could prove especially valuable during significant shopping seasons, allowing brands to connect with audiences across screens in a cohesive manner.
“Looking ahead, advertisers will be able to buy TV with the performance metrics they are already using, turning Pinterest into a true search, social, and CTV performance solution,” Ready added. “This is an exciting progression in our multi-year strategy to drive new sources of demand to Pinterest and begin to allow advertisers to reach our valuable audience beyond our platform.”
Financial Context and Market Outlook
Despite its strategic growth efforts, Pinterest recently reported a 17% year-over-year increase in revenue, totaling $1.05 billion for Q3 ending September 30. However, the company missed analyst expectations on earnings and issued a cautious forecast for Q4, a critical period that includes the holiday season. The acquisition of TvScientific could help bolster Pinterest’s revenue stream by tapping into the growing CTV ad market, which is becoming an essential channel for performance marketers.
Conclusion: A Step Toward a Multiscreen Future
With this acquisition, Pinterest is taking a significant step toward becoming a more versatile advertising platform. By combining its deep understanding of user intent with TvScientific’s advanced CTV technology, Pinterest is positioning itself to offer advertisers a more comprehensive and effective way to reach consumers across screens. As media consumption continues to fragment across devices, this move could be instrumental in sustaining Pinterest’s growth and relevance in an increasingly competitive ad tech landscape.
This article is inspired by content from Original Source. It has been rephrased for originality. Images are credited to the original source.