As competition for creative talent intensifies, Snapchat has introduced a series of new tools, programs, and features that enable content creators to generate revenue, including expanding the gifting feature to content creators around the world, and expanding the content creator market to include major content creators with verified accounts. Including, the launch of a how-to resource called the Creator Hub with a new way to reward creators for making a short Spotlight video.
Andadd The platform is a new way for content creators to earn cash, as it launches a feature called Spotlight Challenges, which rewards a group of content creators every week for creating videos using certain lenses, performing certain activities, or playing a selected audio within the Spotlight app.
Approximately 3 to 5 creators are awarded money for each challenge with winners selected from among the most viewed eligible videos. Payments are split among the winners of prize pools that typically range from $1,000 to $25,000, with a minimum payment of $250. There are multiple challenges every week.
Challenges provide a new way for the platform to motivate users to create Spotlight videos. Challenges can reinforce certain trends or try to encourage different types of content than people normally do. It may help to try to differentiate Spotlight from TikTok and give people a reason to keep coming back to find something new.
Challenges also represent a potential opportunity for profit. Challenges will not be sponsored at launch. But the platform may present sponsored challenges in the future.
Also Read: Snapchat Wants To Teach You The Basics Of Sign Language
Snapchat paid content creators over $130 million
Challenges are now starting to appear in the US, with more markets to follow. The spokesperson says these payments are in addition to the millions of dollars a month the company pays to content creators around the world who make premium videos. The platform was paying $1 million per day when the feature was launched. But later reduced the amount to several million per month.
The payments appear to have been of interest, at least for a few months. The platform said in July that daily Spotlight usage was up 49 percent on a quarterly basis. Time spent each day also rose by more than 60 percent in the United States.
In addition to the challenges, the platform adds two other ways for content creators to get paid. Gifts are now being rolled out globally, allowing viewers to tip creators with digital tokens, from which they get discounted earnings.
The platform is also expanding its Creator Marketplace to include video makers, allowing companies to reach out to them for sponsorships.
Access to these features is limited, however, only Certified Platform Stars are eligible for Gifting and Marketplace. The platform must invite content creators to participate in this program.
Also Read: Snapchat Gets An Exclusive Social Game From Zynga