Snapchat has just rolled out a brand-new feature called Spotlight, allowing viral content creators to rack up over $1 million daily.
To put it merely, Spotlight is like TikTok memes but on Snapchat. The new algorithm recommends "the most engaging video; to watch based on a user's interest. Instead of posting the video on 'Story,' users can tap on the 'Spotlight' button to share it with the world.
As the BBC reported, Snapchat is ready to offer a hefty payout of $1 million for content creators for every single day. The daily payment will run until the end of this year, and Snapchat does not close any opportunity to continue the scheme into 2021 if things go as planned.
To be eligible for payment, users must be over 16-year-old and obey Snapchat's community safety regulation, including the copyright rules. Users posting harmful and dangerous subjects, like alcohol and drugs, are also exempt from the competition.
"We actively monitor for fraud to ensure that we only account for authentic engagement with Snaps," the statement reads.
As the current coronavirus pandemic is making everyone stuck at home, Snapchat sees impressive daily usage statistics, as CCS Insight revealed.
Earlier this year, Snapchat saw a big jump of 18%, with a record of 249 million daily users. The company's revenue also skyrocketed by 52%, racking up $679 million during the same period. Snapchat targets gen Z users, mostly in the United States of America, aged 13 to 24.
That said, Snapchat Spotlight is a testament to Snap Inc's dedication to its content creators. With the ongoing feud between Trump's administration against TikTok, as well as calls to boycott Facebook, Snapchat provides a safe space for users to create.
However, Snapchat faces tough competition from its rival, TikTok. The Chinese-owned social media and video-sharing platform recently celebrated its most significant milestone: 100 million followers for a single creator, accomplished by 16-year-old starlet Charli D'Amelio.
Snapchat Spotlight is designed explicitly for the viral content format, similar to TikTok's default use. Snap Inc has hinted at the feature a while back, with the return of 'Snap Music' last August. Spotlight is not like the traditional 'Story' feature, which documents the surroundings of the area.
DJ Khaled, Kim Kardashian, Ariana Grande, Kylie Jenner, and Niall Horan, the 1D alumni, are among the most followed celebrities and creators on Snapchat.
Snapchat gained popularity for its 24-hour disappearing 'Stories' back in the early 2010s. Its rivals, including Instagram and its owner Facebook, have implemented the feature. Each comes up with their brandings, with the latest being Twitter's 'Fleets.'