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The photo app Snapchat is overhauling how people earn money on its platform, at a time when TikTok influencers will be looking for alternatives ahead of the looming ban.
The company announced a ‘new, unified monetization program for creators’ this week which aims to empower “creators with expanded monetization and evolving rewards.”
The program will place ads within a creator’s Stories and now in longer Spotlight videos as well. From February 1, 2025, eligible creators will be able to monetize Spotlight videos longer than one minute.
“With Spotlight viewership up 25% year-over-year, there is a unique and growing opportunity for creators to monetize this format in the same way they do with Stories.”
Today, we announced our earnings results for Q3 2024. This quarter, we delivered $1.37B in revenue and our community grew to 443M DAU! Learn more at https://t.co/QdxXzxY8lP. pic.twitter.com/wTiAkM67DS
— Snapchat (@Snapchat) October 29, 2024
The Spotlight feature allows users to see a mix of content from people all over the world. People submit their snaps in the hopes it will be seen by a much wider audience.
Snapchat launches new version of monetization program
As part of the unified program, creators may be eligible for invitation if they meet the below criteria. The eligibility requirements now include a creator:
- Having at least 50,000 followers
- Must post at least 25 times per month to Saved Stories or Spotlight
- Must post to either Spotlight or Public Stories on at least 10 of the last 28 days.
- Achieve one of the following in the last 28 days: 10 million Snap views,1 million Spotlight views, or 12,000 hours of view time
The changes come after Snapchat stated the number of creators posting publicly on its platform has more than tripled.
“We remain committed to evolving and expanding the total rewards available to creators, from Snap’s Monetization Program to the Snap Star Collab Studio, and more, making it even easier for them to find success and get rewarded for being their authentic selves.”
It’s not known how much the top creators earn, but it is likely to be a lucrative platform as some major influencers have adopted it as their main resource.
David Dobrik, who was a popular vlogger on YouTube, then turned to Snapchat a couple of years ago and has quietly gained 6.8M followers. He posts 80 to 100 times a day, featuring the same type of content he would have otherwise posted on YouTube.
Over the next few months, many other influencers could be looking to test out new platforms as they face the ban of TikTok.
Featured Image: AI-generated via Ideogram
