Snapchat is introducing a new feature which will see $1millon distributed to users who create engaging content on the app.
Snapchat’s new Spotlight feature will allow users to find “the most engaging” posts to watch, based on their previous usage and interests.
The feature is scheduled to run until the end of the year, but could continue beyond that depending on its success.
How does it work?
People who submit videos to the Spotlight scheme will potentially be able to earn a share of $1million (£700,000) per day.
Anyone who wants to submit content is eligible and Snapchat confirmed that “private, personal accounts” for regular users will be included, alongside stars and influencers.
The criteria for receiving payment is very complicated, with the Spotlight feature running on an algorithm, but one consideration will be how many times the content is viewed.
It is not yet clear if there is a set or maximum number of people the money can be shared between, or whether there is a ceiling on what one user can earn.
In order to receive any money, users must be 16 or over, and follow a series of rules relating to sponsorship, copyright, drug and alcohol use and more.
The Spotlight feature will be monitored, according to Snapchat, for fraud and other violations of the terms.
Why the new feature?
This development is the latest change in the competitive video-social media market, which has seen Snapchat losing some of its market to TikTok recently.
Despite competition, the app still boasts a considerable audience, recently confirming that it had reached almost 250 million daily users during the pandemic.
Snapchat pioneered the ability to create posts which delete automatically after 24 hours.
This feature has since been adopted by Instagram and Twitter, for their Stories and Fleets features, respectively.