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Pinterest has a new video partner on the block — good ‘ol Vevo. Users can now pin music videos from Vevo and play them without ever leaving the Pinterest app. Owned in part by Sony and Universal, Vevo shows music videos from artists on those major labels — Iggy Azalea, Rihanna, Beyonce and the like.
It’s not the first time Pinterest has partnered with an online video sharing service — YouTube and Vimeo struck a similar deal in May 2013. But, in some ways, Vevo is one step up. It’s the traditional entertainment industry, complete with major stars, high production value videos and huge labels.
It’s an indicator that Pinterest is getting serious about competing with Twitter and Facebook for entertainment and media attention.
Another sign came recently, with Pinterest recruiting someone to manage such media partnerships in Los Angeles and New York. In its efforts to achieve its $5 billion valuation, Pinterest is scaling beyond its initial mission to be more than an online scrapbooking tool. The company’s purported goal is to be the place people go for inspiration, to discover ideas, visuals, lifestyles, beliefs and dreams that they didn’t know they cared about.
To truly achieve that, integrating new forms of media and content like this will be crucial. It won’t hurt Pinterest’s promoted pins monetization plans either. Although neither Vevo nor Pinterest disclosed the details of the partnership, you could imagine that down the line major record labels or movie studios might pay to get their latest artist video or movie trailer promoted on Pinterest.
It expands Pinterest’s potential advertiser base from mostly e-commerce and retail companies to a brand new sector. And it does so while keeping Pinterest users engaged on the application itself, with no need to go elsewhere.