Tuesday, November 24, 2020
Snapchat to pay $1 Million a Day to Creators for Viral videos
Snapchat announced that it will pay 1 million dollars per day to creators of the top performing posts, until the end of this year at least. Snapchat is rolling out a new tool to feature the popular videos called spotlight.
By announcing the award, Snapchat is trying to compete with the competitive market of TikTok, Instagram and YouTube. The company said if the trial is successful, it will continue for next year too 2021.
- To be rewarded, video submitters to spotlight don't need to have large followers or even public profiles. The algorithm will determine what to show snapchat users based on their interest of viewing the post. If others see the same video repeatedly, that means signal is catching on and will spur the algorithm to distribute it more widely. Trending : China launches a missile to bring rocks from the Moon
- Snapchat hits 249 million daily active users for the 3rd quarter of this year, likes are private, there is no re-sharing option for videos and displaying follower numbers is optional. Without those metrics, its harder for users to get popular, noticed by brands and hired to create sponsored content, the main way young social media stars make a living.
- Snapchat's spotlight to reward popular videos without their creators having to worry about consistency or the number of followers. Read : 7 types of Cyber crimes to avoid in Saudi Arabia, Here its penalty and imprisonment
- Snap shares have almost tripled this year and reach 45.38 dollars earlier this month as young people turn to Snapchat to message friends videos during Corona virus.
