Snapchat to Offer $25K “Prizes” for Top Videos From Creators

Snapchat to Offer $25K “Prizes” for Top Videos From Creators

BYJ. CLARA CHAN | HollywoodReporter.Com

Troy Warren for CNT #Digital

Beginning next month, an average of three to five creators will be given cash awards for top-performing content that fit the criteria of each challenge.

Snapchatwill begin giving out cash prizes next month to users who create top-performing content that meet the criteria of specific “challenges,” such as the use of a specific augmented reality lens or audio clip, parent companySnapsaid on Wednesday.

Called Spotlight Challenges, named after Snapchat’s user-generated platform that mimics TikTok’s for you page, U.S. users age 16 and older can receive awards from a pool of money ranging from $1,000 to $25,000 for top-performing videos that meet the challenge criteria. Though the pot of money will be split among the winners for each challenge, the minimum prize an individual will receive is $250, according to a Snap spokesperson.

An average of three to five Snapchat creators will be awarded per challenge, the spokesperson said, and the top 50 submissions for each challenge will bereviewedbased on originality and creativity, use of the Snapchat tools, point of view and “entertainment value.”

The challenge prizes are available to creators in addition to compensation made available through the Spotlight fund, an incentive program that paid out$130 million to 5,400 creatorsas of May. When the fund first launched, Snap promised to pay creators $1 million a day for their Spotlight videos, but Snap later scaled back the compensation in June to an unspecified amount — a move that Snap CEO Evan Spiegel recently said was because the program was leading to “copycat content” from creators. Representatives for Snap have said the new payouts amount to “millions per month,” but the company has not revealed an exact figure for daily payments.


An average of three to five Snapchat creators will be awarded per challenge, the spokesperson said, and the top 50 submissions for each challenge will bereviewedbased on originality and creativity, use of the Snapchat tools, point of view and “entertainment value.”

The challenge prizes are available to creators in addition to compensation made available through the Spotlight fund, an incentive program that paid out$130 million to 5,400 creatorsas of May. When the fund first launched, Snap promised to pay creators $1 million a day for their Spotlight videos, but Snap later scaled back the compensation in June to an unspecified amount — a move that Snap CEO Evan Spiegel recently said was because the program was leading to “copycat content” from creators. Representatives for Snap have said the new payouts amount to “millions per month,” but the company has not revealed an exact figure for daily payments.

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By Troy Warren

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