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Snapchat has revealed the money it paid to compete with TikTok!

Snapchat has revealed the money it pays creators to promote Spotlight, a TikTok-style short-form video feature.

Snapchat entered a new phase of competition with Instagram and TikTok 1 year ago. It has launched the Spotlight section, which lets you see posts that everyone shares, not just the people you follow. The company announced that it would pay some money to creators who share using this feature, which it has touted as the ‘new way to discover Snap’.

Snapchat has shared its gains since launching Spotlight. Thanks to Spotlight, creators share three times more often, the company said. “We are committed to rewarding our users for their creativity,” Snapchat said, explaining for the first time the total amount it pays.

Snapchat pays $250 million for Spotlight

“Snapchat is a platform where creators of all types can grow their audience, build their businesses and entertain our community,” the company said, adding that content shared in the Spotlight section was audited before it was posted to prevent misinformation, hate speech and disinformation.

Snap Inc. said more than 65 percentof the content shared in its Spotlight section was created through Snapchat’s AR Lens. Cartoon 3D Style Lens, which transformspeople into a real-time 3D animated cartoon character with machine learning, achieved 2.8 billion impressions on the platform in its first week of release, the company said.

A year ago, we launched Spotlight to unblock content creation and shed light on the most fun Snaps created by the Snapchat community.

Since last year, we have collectively paid over US$250 million to more than 12,000 creatorsthrough our Spotlight programs! And we are committed to rewarding Snapchat users for their creativity.

YouTube Shorts also forked out $100 million

Google, which replaced youTube Shorts in the short-form video market, expanded this feature to more than 100 countries in July, which it first started experimenting with in India. It also set aside $100 million in incentive funds to grow YouTube Shorts. Under the fund, which also launched in Turkey in October, creators will be able to earn a monthly bonus of US$100-10,000.

There are no application forms for the YouTube Shorts Fund. Google determines the publishers who will receive payments under certain conditions. Those who meet all conditions such as having uploaded at least two videos within 180 days and coming of age are eligible to participate in the fund.

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