Snapchat added its Spotlight feature in November 2020 as its (sort of) equivalent of the #ForYou feed in TikTok: a feed of popular snaps from creators using the app. Parent firm Snap also promised to pay hard cash to the creators of the top snaps in that feed.
A year later, Snap has announced that those payouts have now passed $250m, shared between more than 12,000 creators. That’s an average of $20.8k each. A lot of cash, although for context, Snap’s revenues over its last four quarters totalled $3.73bn, so its Spotlight spending is around 6.7% of those revenues.
Snap also announced that more than 65% of Spotlight submissions use one of its creative tools or AR lenses. Talking of creative tools, Snap has just launched a standalone iPhone app called Story Studio as an “early access release” in certain countries – the US and UK included. It’s a way to create videos for Snapchat using music and AR lenses, with various editing tools.
One to test out for music artists who are using Snapchat regularly, perhaps.