The top messaging app’s feature Snapchat Spotlight is offering to pay a share of $1M to its users every day as it is trying to compete with the TikTok app.
Snapchat Spotlight to Pay $1M a Day
The new feature Spotlight will use an algorithm to show the most engaging posts to watch based on the users’ interests. This Snapchat Spotlight feature will be a major change to how Snapchat users find content on the platform.
In a statement, Snap said:
The spotlight will surface the most entertaining snaps from the Snapchat community all in one place, and will become tailored to each Snapchatter over time based on their preferences and favourites.
Snapchat says this feature will include people with private and personal accounts also its biggest stars.
The amount of $1M a day would run until at least the end of the year, it said. But the company said if successful it could continue into 2021 as well.
Videos need to be submitted to the scheme in order to be eligible for the earnings. How much a video earns depends on the complicated formula but also includes the number of views the video has.
However, Snapchat has not confirmed yet what percentage of people $1M a day will be shared between or what the maximum individual’s earning could be.
Other platforms such as Twitch and Youtube, have revenue-sharing agreements with the top creators, but all of them require a certain level of fame. On the other hand, Snapchat is promising that any video that becomes viral and gets around 100,000 a day, will receive its share of the cash.
Users need to be 16 or above to be paid and obey a number of rules around copyright, sponsorship, drugs, and alcohol, among other things.
The company says it’ll moderate the feed for violations and for anyone attempting to game the algorithm.
We actively monitor for fraud to make sure that we only account for authentic engagement with Snaps.