Snapchat is launching a brand new TikTok competitor and unveiling plans to distribute $1 million among some lucky users on a daily basis. On Monday, Snapchat began rolling out Spotlight, a new video tab that will highlight popular videos in the app as the company looks to compete with both TikTok and Instagram Reels. For at least the rest of the year, Snapchat said it will be giving out $1 million daily to users who submit the most popular Spotlight videos. It’s unclear how much money one person could earn from Spotlight in a day. The minimum amount will be $250, BuzzFeed News reports. This, Variety wrote, was a “bid by Snap to keep top creative talent on its platform” rather than TikTok and Instagram Reels.
Messaging app Snapchat is offering a share of $1m (£750,000) to its users every day as it tries to compete with TikTok on viral videos.
Its new Spotlight feature will use an algorithm to recommend “the most engaging” posts to watch based on what a user is interested in.
Snapchat says the feature will include people with “private, personal accounts” as well as its biggest stars.
The $1m-a-day payment would run until at least the end of the year, it said.
But if successful it could potentially continue into 2021, the company said.
Videos have to be submitted to the scheme to be eligible for the earnings. How much a video makes for its owner depends on a complicated formula – but includes how many views the video has.
Snapchat has not, however, said how many people the $1m a day will be split between, or what the maximum individual earnings might be.
Users have to be 16 or over to be paid, and obey a host of rules around copyright, sponsorship, and drugs and alcohol, among other things.
The company says it will moderate the feed for violations – and for anyone attempting to game the algorithm.
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