snapchat: Snapchat introduces cash pricing challenges for content creators

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Snapchat offers content creators a new way to make money. To compete with TikTok, Snapchat announced a new incentive program designed to encourage users to share content on their social network with a new app feature called. to produce and share Challenges in the spotlight.
The Verge reported that this new feature will reward some developers every week for creating videos with certain lenses, performing certain activities, or playing a selected sound within the app’s TikTok competitor, Spotlight.
The challenges offer Snapchat a new way to motivate users to create videos for Spotlight – and do so in a way that gives the company a lot of control. It can kickstart certain trends or try to promote different types of content than people would normally do. That could help differentiate Spotlight from TikTok and give people a reason to keep coming back to find something new.
A Snapchat spokesperson told The Verge, “It’s also a potential revenue opportunity. Challenges are not sponsored at launch, but Snapchat may offer sponsored challenges in the future. ”
Initially, Spotlight Challenges will roll out for Snapchatter 16+ in the US next month, but more markets will be added to the list in the months that follow. These payments are in addition to the millions of dollars per month the company pays out to YouTubers worldwide who create top spotlight videos. Snap paid $ 1 million a day at launch, but later scaled that down to less specific “Millions a Month”.
The payments seem to have worked at least a few months ago. In July, Snapchat said that daily usage of Spotlight was up 49 percent quarter on quarter. The time spent per day also increased by more than 60 percent in the US – although in both cases it did not match the actual numbers.
Payment:
According to Snapchat, roughly three to five creators will be rewarded with cash for each challenge, with winners being selected from the most viewed eligible videos. Payments are divided among the winners from prize pools that “typically range from Rs.1000 to Rs. 25,000 (Rs. 74,724 to Rs. 18,68.10)” with a minimum payout of US $ 250 (Rs.18,681). There will be several challenges each week.
Eligibility to participate:
For each challenge, the 50 qualified, relevant and most respected entries will be judged according to various criteria such as creativity, originality, innovative use of snap creative tools, unique POV and entertainment value.
How to participate:
Those who wish to participate must visit the trending page and select the challenge they wish to participate in to view that specific challenge’s page. Simply select “Challenge Details,” then tap the camera icon to open the Snapchat camera, select “Create” and submit.
Other sources of income:
In addition to the challenges, Snapchat also offers a few other ways for YouTubers to get paid. Gifts are now rolling out globally, allowing viewers to tip YouTubers using digital tokens, from which they will receive a cut in sales.
Snapchat is also expanding its Creator Marketplace to include video creators and allowing companies to connect with them for sponsorship. Access to these features is limited, but only approved “Snapchat Stars” are eligible for free gifts and the Marketplace and Creators must be invited by Snapchat to participate in this program.

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