Spending on Pinterest ads rose 27% year over year in Q1, slowing from 37% growth in Q4 as advertisers ran up against much tougher year-ago comparisons in the first quarter. Impressions soared 37%, the fourth straight quarter of double-digits increases, while CPM fell 8%. Q1 marked the first quarter of CPM declines for Pinterest advertisers since Q3 2024. Advertisers continue to see strong results with Pinterest's Performance+ tools. → Reddit advertising continues to draw more investment from advertisers. Spending on Reddit ads grew 77% year over year, driven by a 3% increase in impressions and 71% increase haven't turned advertisers off. Reddit announced Al-powered Max Campaigns in January 2026, mirroring