Pinterest has launched a Pinterest TV Studio app, a separate platform from its online shopping portal that helps creators stream live video using multiple cameras, enhanced editing tools and more , according to a report from SocialMediaToday on Wednesday, May 4.
Pinterest TV Studio is available to select users at this time, according to TechCrunch, which reported that Pinterest released the app earlier this week to Apple and Google Play stores.
“Upon first launch, creators must enter a code or scan a barcode provided by Pinterest in order to access the live streaming tools provided by the app,” the TechCrunch report states.
Pinterest’s new app could signal an expansion of its business model to include live shopping, SocialMediaToday’s report notes.
McKinsey predictions indicate that over-the-air shopping will reach $400 billion this year, roughly half of all e-commerce spending in the United States in 2021, according to the US Census Bureau Data. Shoppers aged 27 and under are the most frequent users of online shopping today.
TikTok, Instagram and YouTube have all developed their own live shopping channels, according to the report. Pinterest launched Pinterest TV in November, and the new app powers that offering.
According to the report, as it develops, Pinterest TV Studio is expected to become a live stream of different brands and creators showcasing their content, which viewers can purchase while watching.
In its first-quarter 2022 results and shareholder letter released last week, Pinterest hinted at beta plans for your store, a new feature enabling “a personalized shopping page powered by our like-driven algorithm informed by Pinners’ unique preferences and styles,” as well as the new Pinterest API for shopping.
Related: Pinterest makes itself more buyable as the platform positions commerce to take over ads
During a Q&A with analysts, Pinterest CEO and co-founder Ben Silbermann explained Pinterest’s emerging strategy to make the platform more shoppable — a trend seen at Meta and others. in space trying to make up for lost advertising dollars due to Apple’s recent iOS data privacy. changes.
The company’s three-pronged strategy for purchases started with a verified merchant program and moved to more advanced product download catalog capabilities, he said.