The land grab is over. Now everyone’s just redecorating.

Growth stalled, revenue didn’t: Pinterest pulled in $1.18 billion last quarter, up 18% year over year, while US, Canada, and Europe usage went flat.

But all of the growth came from the Rest of World, where revenue per user is lowest.

AI-powered matching is carrying that revenue. You’re buying sharper targeting. The audience, however, is not expanding that much.

And Disney raids the For You page: Disney+ will feature TikTok fan videos about Marvel, Pixar, and Star Wars inside its Verts feed.

A new Creator Ambassador Program gives those creators library access, events, and rewards. Streaming inventory is starting to look like social inventory.

The challenger took the crown: TikTok Live claimed 50.9% of global live-streaming hours in Q2, more than every legacy platform combined.

Legacy platforms fell 6% year over year. YouTube Gaming dropped 19.3%.

Worth noting where the money is. TikTok won the hours. Twitch and YouTube still monetize a viewer better, according to all reports. Still, TikTok Live is slowly gaining traction.

Double the canvas: TikTok’s Symphony suite now generates 30-second AI video ads, up from 15, with up to 50 multimodal references.

Timing’s interesting, though. Meta, Pinterest, Snapchat, and LinkedIn are all currently tuning their algorithms against AI slop.

What we think: It seems like nobody’s finding new eyeballs, so everyone’s fighting harder over the ones they’ve got.