Thinking of advertising your bands on Pinterest once the image-based social site opens up for ads? You’ll need a hefty budget. AdAge reports that Pinterest is planning to charge advertisers between $1m and $2m, with a CPM price of $30-$40. The company has been testing “promoted pins” for several months with a narrow range of partners, who’ve been getting the ads for free to help Pinterest figure out how best to show them to users. AdAge notes that Pinterest may be facing growing pressure to start making money, having raised a startling $564m in funding without (yet) making any revenues at all. In truth, music marketing is likely to be a minor element when Pinterest does launch ads, although a number of artists and labels have experimented with using the service more organically to connect with fans.

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