Behind the Numbers: EMARKETER Podcast

Episode: The Other Social Platforms—Pinterest’s AI Push, Snap’s Attention Bet, and Reddit’s Bid for Ad Dollars

Date: September 2, 2025
Host: Marcus (EMARKETER)
Guests: Minda Smiley (Senior Analyst, New York), Jasmine Enberg (VP & Principal Analyst, LA)

Episode Overview

This episode spotlights the "other" major social platforms—Pinterest, Snapchat, and Reddit—and examines how each is adapting and innovating within a crowded digital landscape dominated by the likes of Meta and TikTok. The group explores Pinterest’s AI-driven ad solutions and userbase shifts, Snap’s focus on attention metrics amidst structural challenges, and Reddit’s surging ad revenues coupled with its unique value proposition for advertisers. The hosts discuss each platform’s most relevant developments, their potential as ad vehicles, and examine broader questions around monetization and advertiser perceptions.

Key Discussion Points & Insights

Pinterest: AI, Demographics, and Smart Partnerships

[03:01–07:08]

• Strategic Overview:
  Pinterest is simultaneously launching AI-powered features, diversifying its audience, and pursuing data partnerships (notably, Instacart)—all to strengthen its ad business and stay differentiated as a shoppable, positive corner of the internet.

• AI Tools:

  • Generative AI tools like auto-collages are boosting user engagement (“twice as often as standard pins”).
  • Addressing industry-wide concerns over “AI slop”—unwanted, low-quality AI content.

• Demographic Evolution:

  • One-third of global users are men, 30% in the US and rising, largely due to Gen Z.
  • New ad products target these shifts (e.g., “Pinterest ManHub”).

• Ad Partnerships:

  • Pinterest’s “smart” partnerships (e.g., Instacart) allow for scaled advertising with lower overhead than giants like Meta.

• Notable Quotes:

  • Jasmine:
    “Pinterest has done a really good job of positioning itself as a safe corner of the Internet...” [04:31]
    “...when you look at all of these developments together, there’s this really clear picture that Pinterest is really trying to deliver on its ad business on all fronts.” [04:31]
  • Minda:
    “Their ad tech ambitions are pretty interesting...striking a lot of partnerships within the ad tech space that would really help them scale...” [05:46]
    “They certainly are rolling out AI features across all aspects of the business—consumer facing, search, commerce, actual ad formats...” [05:46]

Snap: Betting on Attention, Facing Structural Headwinds

[07:08–11:28]

• Current Situation:
  Snap is positioning itself as a leader in “attention metrics” valued by advertisers. However, performance remains mixed: revenue growth is the slowest in a year, while user and engagement growth are strong with certain problems in core North American markets.

• Business Challenges:

  • Persistent issues with small size, niche use case (messaging), and underwhelming Gen Alpha adoption.
  • Recent technical snafu led to ads running at a discount, further shaking advertiser confidence.
  • Heavy investments in AR ($3 billion cumulative), a bet that seems out-of-sync with the current industry focus on AI.

• Notable Quotes:

  • Minda:
    "Snap's issues right now are much bigger than something like an attention metric..." [07:44]
    “A lot of the issues plaguing them are a little more existential in terms of where they fall within the social media mix...” [07:44]
  • Jasmine:
    “It is working against long-standing, really structural issues with its business... its core use case as a messaging app... indications that Gen Alpha isn’t signing up for Snapchat...” [09:15]
    “You really can’t make mistakes in the current environment.” [10:37]
    “Spending $3 billion on AR... seems a little bit out of touch, given that we know Snap’s ad business just isn’t keeping pace... investors and advertisers are really looking for more innovation in AI than they are in AR right now.” [10:53]

Reddit: Breakout Q2, AI Data Licensing, and Brand Perceptions

[11:28–20:32]

• Reddit’s Progress:
  Delivered a standout Q2 with ad revenues up 88% (to nearly $500 million) and global daily active users up 20%. ARPU growth strong, monetization improving.
  Yet, Reddit is still navigating the transition from niche, community-driven platform to a mainstream choice for advertisers.

• Unique Differentiators:

  • Reddit is paradoxical: highly AI-integrated for ad products, yet still perceived by users (and increasingly advertisers) as one of the last authentic, people-first social spaces.
  • Stands out as “anti-creator” and “anti-influencer”—but not “anti-influence.”
    • Jasmine: “From a consumer perspective... it’s one of the few places where you can still get real-world human interaction at a time when social media feeds are being filled with creator content and AI slop.” [12:48]

• Ad Products & Organic Strategies:

  • “Community Intelligence” tool packages user conversations for brand insight.
  • Brands are focusing on organic community engagement—cases like Sonos, where a company employee built trust over years on the subreddit, are highlighted as models.
  • Advertisers are cautious—Redditors aren’t as receptive to intrusive ads.

• Commercial Relevance:

  • New Street Research estimates 40% of all Reddit conversations have commercial relevance, making it valuable during the consideration phase of consumer shopping journeys.
  • Reddit exploits this with data licensing, selling its feed to AI companies (e.g., OpenAI, Google)—now 7% of total revenue and the most cited source for AI models.

• Notable Quotes:

  • Jasmine:
    “Reddit... has carved out a corner of the table that I think speaks both to the advertiser demand for AI driven products as well as the consumer need for more human driven content.” [13:50]
    “One of the things I’ve been thinking about a lot too is all of that data and information that it has on its platform... Not just relevant for advertisers and marketers that want to advertise on Reddit or show up on Reddit. It's relevant to their bigger marketing plans.” [17:57, 18:15]
  • Minda:
    “Advertisers are certainly more interested in Reddit than they ever have been before...” [15:26]
    “Reddit... is not a plug-and-play [ad platform]. Brands are more focused on organically how they can get onto Reddit... it’ll be a bit of a slow burn.” [15:36, 16:43]
  • Jasmine on licensing:
    “Licensing for a platform like Reddit as well as X could become a viable revenue stream in the future if they do it right. Yes, I see a lot of potential there.” [20:00]

Timestamps for Major Segments

| Segment | Timestamps (approx.) | |-------------------------------|--------------------------| | Chitchat/Intro | 00:00–03:02 | | Pinterest: Trends & AI | 03:02–07:08 | | Snap: Attention & Ad Struggles| 07:08–11:28 | | Reddit: Ad Growth & Licensing | 11:28–20:32 |

Memorable Moments & Quotes

• “Pinterest has done a really good job of positioning itself as a safe corner of the Internet...” — Jasmine [04:31]
• “Snap’s issues right now are much bigger than something like an attention metric...” — Minda [07:44]
• “You really can’t make mistakes in the current environment.” — Jasmine [10:37]
• “Reddit... has carved out a corner of the table that I think speaks both to the advertiser demand for AI driven products as well as the consumer need for more human driven content.” — Jasmine [13:50]
• “Advertisers are certainly more interested in Reddit than they ever have been before...” — Minda [15:26]
• “Licensing for a platform like Reddit... could become a viable revenue stream in the future if they do it right.” — Jasmine [20:00]

Conclusion

• Pinterest is successfully leveraging AI, evolving demographics, and partnerships to diversify its ad offerings and reinforce its identity as a commerce-friendly, positive social space.
• Snap continues to face existential challenges. While its pursuit of “attention” as an ad metric is timely, larger output, audience, and innovation concerns need addressing.
• Reddit is undergoing a significant monetization evolution with impressive ad growth and data licensing opportunities, yet it remains a more complex, slow-burn proposition for brands wary of its unique, sometimes ad-averse user base.

Through this episode, listeners gain a clear, nuanced understanding of how each “alternative” social platform is positioning itself for the future in a world increasingly obsessed with AI, data, and authentic digital interaction.