Pinterest is ending its creator rewards program, which offered cash bonuses when creators completed goals such as hitting certain engagement metrics, The Information is first to report. It’s the latest example of a social media company pruning initiatives designed to attract creators as tech companies rethink products in the face of an economic downturn.
The digital scrapbooking service launched the test program with selected creators about a year ago. After the program’s conclusion on Wednesday, it will pay a one-time bonus to creators in the program who participated in at least one reward goal in August, September or October, a Pinterest spokesperson said. The company declined to share how much it was giving away in bonuses or how many people were part of the creator rewards program.