Pinterest has been ramping up its advertising efforts, and according to a new report from Ad Age, is seeking ad commitments from advertisers in excess of $1 million.
Priced at between $1 million and $2 million, the social network is also asking CPMs (cost-per-thousand impressions) of between $30 and $40.
From Social News Daily CEO James Kosur:
“While a $30-$40 CPM is rather higher for most publishing platforms, Pinterest has an incredibly high CTR rate which provides advertisers with a bigger bang for their buck.”
Called “Promoted Pins,” the social network’s first ad product was announced in September 2013, and are currently being tested among a select group of advertisers.
Recently, Pinterest launched a Gifts feed that lets users check out products from a wide variety of e-commerce sites.
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