Pinterest is advancing its ad business expansion, allowing brands in Mexico to launch paid promotions through Pins.

The move comes when Pinterest goes on an expansion spree for its ad tools across Latin America. It had kick-started this process when the company launched Pinterest ads in Brazil last month. According to the company, it currently serves over 23 million monthly active Mexican users.
 
Managing Director for Latin America at Pinterest André Loureiro shared this statement:

"Brands play a foundational role in the platform, making it easier for users to find the inspiration to create the life they love, and we are very excited that now they can do so through ads in Mexico

International markets for Pinterest have seen a great boom in recent times, with its active audience outside the United States increasing by 37 percent year over year throughout 2020, while that of North America grew merely by 9 percent.

In Mexico, specifically, it still has a lot to do to gain some effective market traction as it ranks seventh on the list of top social media apps. However, it is increasing in engagement, especially concerning search activity. According to Pinterest, on-platform searches by Mexican users increased by 93% year over year throughout 2020.

That may also enable a variety of new marketing avenues, and the broader expansion of its ad offerings will also help Pinterest boost its business and revenue programs and maximize its earnings potential.

As seen, the move marks the next wave of expansion for Pinterest's business, with Argentina, Colombia, and Chile on the list to have promoted Pins opened for them. Promoted Pins have actually seen great growth in the two latter regions. Also, expanded ad offerings will open up more routes for brands looking to reach these markets.

Pinterest is maintaining its very robust earnings growth expectation for 2021, but cautioned that the growth pace for usage will keep decelerating as we look past the mitigation efforts tied to the pandemic.