What happened
Pinterest (PINS 1.26%) stock more or less traded sideways on Tuesday, closing the day only slightly lower in price. That was better than the 0.4% slip of the S&P 500 index, however, and the likely reason why is a new deal it reached with a cutting-edge media company.
So what
That media company, privately held Tastemade, announced in a press release that it's collaborating with Pinterest on a content-delivery arrangement. This will see Tastemade, which makes video content covering cooking, travel, design, and related subjects, produce 50 new shows that will launch exclusively on the hobby-sharing site.
This represents a ramp up of the currently existing partnership between the two companies. Tastemade said in the press release that it's already one of the largest video-content collaborators with Pinterest. The new shows, some of which will air live, will feature talent from the "creator communities" active on both companies' platforms.
"This is a natural extension of our existing partnership as we scale our content and creator efforts at Pinterest, and I'm thrilled to build something even bigger to inspire Pinners in more languages around the world," Tastemade quoted Pinterest Chief Content Officer Malik Ducard as saying.
Now what
What Tastemade didn't reveal were the financial terms of the Pinterest deal, which could be a key reason the latter's investors weren't more excited about it. Nevertheless, in this digital-media age, it's usually good news when a content partnership expands. The more users to a site (and the more time they spend there), the better, all things being equal.
