On Monday the 23rd, Snapchat revealed a new feature on the app that allows users to post a short video to all followers, similar to the TikTok feed that many are used to. Snapchat plans to give out $1M a day to the creators as a way to popularize the new feature. Just like TikTok, and the most recent copy of the app, Instagram Reels, Snapchat Spotlight will have a vertical feed of videos from the creators on the app. TikTok also has a creator fund which gives out payments to its most popular creators based on video views, likes, comments, and shares. The Snapchat Spotlight will make that $1M a day available to the creators of videos that have the most views or interactions in a similar fashion. Snapchat already has 250M daily active users, and this new feature will become immediately available to them.
In the past, unlike TikTok or Instagram, Snapchat had been
closed off to typical influencers because there is no discovery engine and the
platform is made for viewing the content of people you are connected to. Now,
however, users of the app will be able to see content from all creators based
on an algorithm that brings videos to their feed. As this new feature becomes
more widely known and used by the influencers and top creators of today, it is likely
only a matter of time before, like TikTok, it is used as the newest space
within digital advertising for products.
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