Snap is rolling out new ways for Snapchat creators to make money on the app — part of the company’s efforts to keep the most popular content creators on its platform in the face of ongoing competition from the likes of TikTok, Instagram and YouTube.
The new programs include Spotlight Challenges: an extension of the Spotlight user-generated content section that promises cash payouts of $25,000 — or more — to creators with the most-engaging videos that use specified AR lenses, sounds or topics.
The Spotlight Challenges program, set to start rolling out next month, is in addition to the “millions per month” the company says it pays to creators globally for top-performing Spotlight Snaps. When the TikTok-like section debuted in November 2020, Snapchat said it paid out more than $1 million per day to the top-performing videos; in June, the company reduced the amount it pays overall because the program was generating too much “copycat content,” Snap CEO Evan Spiegel said last week at an investment conference.
Spotlight Challenges will give Snapchat users the chance to win cash prizes for creating posts in a wide range of categories, like “Best Trick Shot” and ”Impressions Challenge.” The total prize amount for individual Spotlight Challenges will typically range from $1,000 to $25,000, although Snap said it may occasionally pay out a larger sum for a particular challenge. The minimum prize a Snapchat user can win in a Spotlight Challenge is $250.
Official rules for Snapchat Challenges are available at this link. Typically, according to the company, each challenge will reward an average of 3-5 eligible Snapchatters as winners. The top 50 eligible, relevant and highest-viewed submissions from the selection pool for each contest will be judged based on creativity and originality, innovative use of Snap creative tools, unique point-of-view, and entertainment value.
Spotlight Challenges is in the testing phase now and is slated to launch initially on Snapchat Android and iOS apps in the U.S. in November. Users can find the challenges on the Trending Page via the “trending up” symbol on the top right corner of Spotlight within the app. Each Spotlight Challenge’s page will feature the description and entries submitted by the community; to submit a video to a contest, users can tap the camera icon to open the Snapchat camera to create and enter a Snap.
Snap also announced that Gifting, a new feature that allows users to buy “Story Replies” to posts for their favorite Snapchat influencers, is now rolling out to eligible Snap Stars worldwide. Snapchat’s Gifting feature, which it first announced in May, lets someone use Snap Tokens to send a Gift to a Snap Star and kickstart a conversation. According to the company, Snap Stars receive a share of the revenue from Gifts received through Story Replies.
The company also is expanding the Creator Marketplace, which at launch enabled businesses to connect with Lens Creators, Lens Developers and Lens Partners, to include Snap Stars to identify sponsorship opportunities on the platform. Snap also introducing a new “sponsored by” tag, available to businesses with verified public profiles at launch, which enables Snap Stars to tag a brand in their sponsored content that will show up under their username. Snap said 100% of the money from those transactions will go directly to creators.
Finally, Snap is launching a new Creator Hub (at creators.snap.com) with tips, tricks and information for creators of all backgrounds.
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