Snapchat has once again reduced the amount of its Spotlight fund for creators, which could drastically affect users of its platform.
It’s no secret that TikTok has dominated the social media space over the past few years, leaving competitors to come up with new ways to try to attract creators and audiences to their platforms. Two years ago, Snapchat debuted on Spotlight, a dedicated tab on its platform that allowed creators to submit their videos for a chance to feature on the front page and earn some money as well. At the time, the company offered $1 million a day to creators. Now, that amount has been reduced.
As mentioned earlier, Spotlight originally rewarded creators from betting a million dollars each day, but later reduced the frequency to millions of dollars a week, and now, Snapchat is changing things up again, rewarding creators with millions of dollars over the course of a year. The company stated that although the amount is smaller now, it is able to pay more creators from all over the world. interested in trade He was able to talk to the creators to see what kind of changes there have been over the past two years, and profits have already been cut. Payouts have changed dramatically, with one creator stating that they used to earn $15,000 per 150,000 views, but now they were only making $15 for the same number of views.
Social media apps depend on the audience, and in order to attract the audience, they need content creators. For the most part, TikTok kept things fresh, which gave the creators a reason to stay. As for the fans, the short videos have been a huge hit, mainly because they are so entertaining and easy to use. As TikTok continues to dominate, competitors like Instagram and YouTube have changed strategies, dedicating more resources to their short-format platforms. YouTube has gone as far as to share ad revenue with creators, which will start in 2023. But will that be enough to counter the current king of short media?
source: interested in trade
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