Snapchat has modified the best way it pays creators by its Highlight reward fund. Creators that use Snapchat’s TikTok clone, Spotlight, will now be paid hundreds of thousands per 12 months, a supply accustomed to the matter advised . Business Insider was the primary to report the change.
This marks the second time Snapchat has decreased the payout. In 2021, the corporate rewarded creators hundreds of thousands per week, down from $1 million a day in 2020.
Whereas Snapchat is decreasing the quantity, the supply famous to that it’s paying extra creators in additional markets. It’s additionally essential to notice that the minimal payout per Focus will stay at $250. Final 12 months, Snapchat paid $250 million to over 12,000 creators.
Additionally they pointed to different methods Snapchat creators earn a revenue, together with the Creator Marketplace, Sound Creator Fund, its accelerator program for black creators, Spotlight Challenges and in-app gifting. In February, the app examined revenue sharing on adverts in Snapchat tales for Snap Stars.
Snapchat recently announced it’s awarding a complete of $100,000 throughout 12 Highlight Challenges for Halloween.
The transfer to decrease fund spending for Highlight was possible made as one other method to increase revenue and spend much less of its income. Earlier this 12 months, CEO Evan Spiegel introduced that Snapchat was testing ads on the Highlight. In August, Snapchat downsized its workforce by 20%.
Final week, Snapchat reported its Q3 results, lacking analyst expectations on income. The corporate nonetheless did comparatively effectively, incomes $1.13 billion, a rise of 6% for the quarter. Nevertheless, Snapchat’s internet loss rose to $360 million.
On a extra constructive word, the corporate stated Highlight carried out effectively this quarter and helped enhance the general whole time spent watching content material.
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