Snapchat introduces monetized challenges to compete with TikTok
Snapchat on Wednesday announced a new way to let creators monetize their content through “Spotlight Challenges.” In an attempt to compete with TikTok, Snapchat will now pay cash prizes to encourage “Snapchatters” to create content on the social network.
The news was shared by the company earlier today on its official blog. According to Snapchat, creators will be able to earn money with Spotlight Challenges by “creating top-performing Spotlight Snaps using specific Lenses, Sounds, or #Topics.” Cash prizes range from $250 to $25,000, although the company says that larger prizes will be offered for specific challenges.
Snapchatters can win a share of the total prize amount available for each Spotlight Challenge, which will typically range from $1k to $25k, although occasionally we may make available a larger sum for a particular Challenge. The minimum prize that a Snapchatter can win in a Spotlight Challenge is $250 USD!
Users can find the challenges available on the Trending Page of the Snapchat app. For each challenge, the social network will choose the 50 most relevant submissions to be judged for their “creativity and originality.” Snapchat says an average of 3 to 5 winners will be chosen per challenge.
Spotlight Challenges will be available starting in November exclusively for US users over the age of 16. The company says that the challenges will be expanded to more countries in the coming months, but details are unknown.
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October 6, 2021 at 07:55PM