Snapchat, the Gen-Z and millennials’ favorite social media platform is paying at least $1 million per day for its content creators. Evan Alberto, a content producer on the social media platform said that he is turning into a millionaire in the next few weeks thanks to Snapchat.
According to a report by CNBC, the social media platform has been paying its creators $1 million per day since November 2020. Snapchat payment is similar to YouTube, where content creators get paid based on the number of views.
The company reported that paying $1 million on a daily-basis aims to draw more content creators. The move is supposed to push Snapchat’s efforts to override its competitor TikTok. To this writing, Snapchat’s Spotlight has 100 million monthly active users. Additionally, Spotlight receives more than 175,000 video uploads daily. The social media platform has over 265 million users.
Snapchat Spent $110 Million on Spotlight
Since Spotlight was first introduced Snapchat has spent $110 million in the market. For instance, Alberto, a benefactor of Snapchat’s Venture told CNBC:
“Originally I just did it for more exposure, I wasn’t quite sure how much money was in there,” said Alberto, a content creator of two years. He snapped a quick video with his girlfriend at dinner one night, posted it, and didn’t think much of it. Two weeks later, he got a notification that the video had made him $94,000.
“When the first check came in from Snap, I thought it was a typo,” he said. Since then, he’s been working to post 20 to 40 videos daily. Under the handle @evanthecardguy where he has 111,000 subscribers. He says that as of March 18 he’s made around $900,000 from his videos, where he does magic tricks, challenges. And “basically anything that fits sort of a game show hype.”
In the interview with CNBC, Alberto added that he tattooed the company’s logo on his ankle since his Snapchat earnings will help him buy his first house.
“This is such an awesome opportunity I’m trying to make the most of it,” he added.
Snapchat is Turning Creators into Millionaires
According to Snap, “several” content creators have turned into millionaires thanks to the Spotlight feature. In a statement, Snapchat said that Spotlight will soon be introduced in India, Mexico, and Brazil.
“Traditionally a platform comes out like TikTok. And it kind of steals the attention from other places but Snapchat seems to kind of be reigniting,” Alberto said. “People think of Snap as a way to make stories and communicate with friends. I think they’re really trying to open the door and have content creators. I think it would be really interesting if they use this moment to really make Snapchat a place for influencers.”
Content creators on Snap said that Spotlight has helped bring back inactive users and made them spend more time on the app.
“Spotlight is definitely making a big splash in the community,” said Sarah Callahan, a content creator who goes by Sarati. Callahan, a 25-year-old with 725,000 subscribers on the app, told CNBC she’s made $1.63 million so far on the platform from her meme and fitness content.
“Spotlight gives a ton of people a voice and allows anyone to do anything with it, but the more you post, the more you do, the more money you’ll make with Spotlight,” she said. “All of the creators on there are consistent and they’re doing it as a business.”