According to the latest news, Snapchat is adding new ways for creators to earn cash. The app is launching a feature called Spotlight Challenges which will reward a handful of creators each week for making videos using specific Lenses, doing certain activities, or playing a chosen sound inside Spotlight. Three to five creators will be awarded cash for each challenge. The winner will be chosen from among the most viewed eligible videos. The company says the minimum payment will be $250 and prizes will “typically range from $1k to $25k.”
Since there will be multiple challenges every week, creators will have more than one opportunity to perform and win. The challenges offer a new way for Snap to incentivize users to make videos for Spotlight. It can boost certain trends or try to encourage different types of content than people would typically make.
As of now, Challenges are rolling out in the US. Soon, it will be found in other markets too. The spokesperson says these payments will be in addition to the millions of dollars per month the company pays out to creators globally who make top Spotlight videos. At launch, Snapchat was paying $1 million per day but later reduced the sum to a few “millions per month.”
It seems the payment mechanism was working. Back In July, Snap said daily usage of Spotlight was up 49 percent quarter over quarter. At that time, time spent per day was up more than 60 percent in the US.
Apart from Challenges, Snapchat is also adding a couple of other ways so that the creators are well paid. One such feature, Gifting is now rolling out globally. It will allow viewers to tip creators with digital tokens. Moreover, Snapchat is also expanding its Creator Marketplace to include video creators. As of now, access to these features is only approved for “Snap Stars”.