This article gives us a good introduction to Tik Tok and other social media platform’s influencer economy where “a handful of creators attract many millions of followers; those creators get sponsorship deals; and thus, the rewards go individual users follow a rich-get-richer distribution.”
Snapchat is challenging the status quo through their new feature Spotlight, the company’s own take on shortform video, by democratizing the financial rewards and build an engine for culture that benefits many thousands of people, rather than hundreds, using a new algorithm that replaces public follower counts, likes, and comments with something that more closely resembles a lottery.
The real opportunity for Snap here is that thousands of creators who don’t have millions of followers to make real money on the platform, either once or a large handful of times, and we never learn their names at all. That would be something truly new in social networks – intermittent financial rewards just for using the platform as intended. Obviously, Snapchat would benefit financially by creating a popular destination to show ads as well. ;)
You can read the full article here: https://www.theverge.com/2020/11/24/21612775/snapchat-spotlight-lottery-creators-tiktok
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