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| Snapchat Adds Cash Rewards Challenge to Spotlight |
As competition for creative talent intensifies, Snapchat has introduced a number of new tools, software, and features to enable creators to monetize, including expanding the donation function to global creators and expanding the Creator Market to include major creators with verified accounts. Including the launch of the Creator Center, a new way to reward YouTubers for producing short films and videos.
The platform offers creators a new way to earn money as it introduced a feature called Spotlight Challenges that rewards a group of content creators every week who use certain recordings to create videos, perform certain activities or play a specific sound. Pioneering application.
Approximately 3-5 YouTubers will receive a prize for each challenge, and the winner will be chosen from the eligible videos with the most views. The prize is split among prize pool winners, usually between $1,000 and $25,000, with a minimum payout of $250. There are many challenges every week.
The challenge gives the platform a new way to get users to create Spotlight videos. Challenges can exacerbate certain trends or try to promote different types of content than is usually the case. Trying to differentiate between Spotlight and TikTok can help give people a reason to keep coming back for new things.
Challenges are also potential opportunities to win, Challenge is not sponsored at launch. But the platform may face sponsorship challenges in the future.
Snapchat paid creators over $130 million
Challenges are now beginning to emerge in the US and other markets will follow. The spokesperson said the payments are on top of the millions of dollars the company pays to content creators around the world to produce high-quality video each month. When the feature was launched, the platform was paying $1 million per day. But then it was reduced to a few million a month.
These payments seem to keep people interested at least for a few months. The platform announced in July that daily Spotlight usage increased by 49% every quarter. In the United States, the time a person spends per day has increased by more than 60%.
In addition to challenges, the platform also offers two other ways for YouTubers to get paid. Freebies are now rolling out worldwide, allowing viewers to tip creators with digital codes and get discounts from them.
The platform is also expanding its market from creators to video producers so companies can contact them for sponsorships.
Access to these features is limited, but only approved platform stars are eligible for free offers and marketplaces. The platform shall invite content creators to participate in this program.