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: