Snapchat introduces a new way for app creators to earn money from ads.
As competition for creator talent heats up, popular social media app Snapchat adding a series of new tools, programs and features.
another new monetization opportunity for Snap creators, with mid-roll ads for Snap Star Stories, providing a directly attributable revenue pathway for the app’s biggest stars.
Snapchat is giving away $1 million per day to users who post content using the new ‘Spotlight’ feature. Spotlight is a TikTok-like feature on Snapchat that shows the most entertaining 60-second videos created by users in a dedicated section. Snapchat is naming the feature “Spotlight” because it is designed to highlight entertaining videos from all users, regardless of the number of followers or influence they have.
When an ad is placed within a Snap Star’s Story, Snapchat will share the revenue with the creators. The company says the revenue share is based on a formula that takes into account metrics like posting frequency and engagement. The feature is only available to Snap Stars, who are creators or public figures with large followings that have been verified on Snapchat, indicated by a gold star.
This is the first time that Snapchat creators will be able to make money from the ad revenue on Stories. Before this, the app allowed creators to monetize their following on the app through ads that appear between Stories and on the Discover section. The new feature also sheds light on an important trend of Snapchat users. Add to that the fact that the platform offers cash incentives up to $1 million to the most engaging snap; there’s no reason for you not to be there.
Snap CEO Evan Spiegel told investors in January that Snapchat users now spend more time on Spotlight consuming content than they do posting and reading stories. In certain ways, the company has found success with the feature and continues to pursue expansion in the market.
The main focus is on helping top Snap chatters earn more money for their efforts, which, ideally, will keep them posting to the app more often. With the competition for attention heating up, every social app is now looking to win over creators, to get them posting as much as possible, which will ultimately keep more users engaged, more often, and keep them coming back to their platforms to check in on the latest creator updates.