Connect with us

SOCIAL

Snapchat Says That it Paid out More Than $250 Million to Spotlight Creators in 2021

Published

on

Snapchat has revealed that it’s paid out more than $250 million in payments through its Spotlight short-form content funding program in 2021, which hasn’t always been a perfect solution to win over creators, but has helped Snap generate more interest in its own TikTok-like option as it seeks to combat rising competition in the space.

Snapchat Spotlight

Snapchat first launched Spotlight in November last year, with the lure of paying out $1 million every day to Spotlight creators, to be divided between the top-performing clips. It’s since revised that down to a more vague ‘millions per month, and added more qualifiers to the funding. But even so, $250 million through 348 days of 2021 is a significant investment, with the funding shared between more than 12,000 short video creators.

That means that, on average, the Spotlight creators that have been paid through the program have made more than $20k each from their clips.

As per Snap:

We have been awed by the positivity of our community. Their talents, passions and unique perspectives are showcased on Spotlight every day, and it’s been exciting to see Snapchatters’ imaginations run wild while using Creative Tools. In fact, over 65% of Spotlight submissions use one of Snapchat’s Creative Tools or an augmented reality Lens.

In many ways, it’s been a winner for Snap, yet, as noted, it hasn’t always been smooth sailing, with Snapchat forced to revise the program in the middle of the year after creators complained that their payment amounts had significantly reduced over time, while they also reported delays in payments, and other issues, which had soured them on the experience.

Which is the opposite of the intended impact, with the program created to build stronger bonds with the creator community. Part of the problem here is that once Snapchat had implemented direct funding, creators quickly came to rely on that money, and when it sought to pull back on those funds, that had a direct impact on their income.

Which highlights a key issue with direct funding programs, as opposed to a self-sustaining advertising or other creator eco-system. But maybe that initial push has still given Spotlight enough of a boost to help Snap fend off the rise of TikTok, and keep its users from migrating away to the latest trending app.

Really, it’s amazing to consider the impact that TikTok has had on the social media landscape.

Not only is TikTok now on track to reach 1.5 billion users in its own right, but the popularity of the platform has influenced the latest feature additions in almost every other social app. In fact, TikTok is arguably more influential than any other social media tool before it, and while replication has always plaid a role in product innovation and development, the continued shift towards full-screen, short form video is changing to UI of various tools, and may well be the biggest overall shift in consumption habits in the history of the medium.

In this sense, Snapchat’s Spotlight initiative likely can be considered a success, given the way TikTok has dominated usage trends, and become the platform of choice for many young users. By adding its own variation of the same, and paying popular creator, Snap’s likely laid the foundations for ongoing usage and interest, which has added another element to the app, which will keep it moving in line with these trends.

And it’s not done yet:

“In the year ahead, we’ll continue to offer a range of opportunities to meet the needs of creators as they entertain our community while growing their brand. And for our community, we’ll continue to make it even easier to follow and view content from your favorite creators – whether that be on Spotlight, Stories or Discover. Today, over 25 Spotlight creators are also syndicating their show on Discover, with more to launch in the coming months.”

A new stream of creator content, new funding for creators, new avenues to discover talent. Is that worth $250 million? Probably, you would say, yes, and even with some teething problems, it seems that Snap may well be on a winner with its Spotlight approach.

Socialmediatoday.com

SOCIAL

17 Content Options for Each Stage of the Sales Journey [Infographic]

Published

on

17 Content Options for Each Stage of the Sales Journey [Infographic]

Looking to formulate a better content strategy for 2023?

This will help – the team from Orbit Media has put together a listing of 17 content formats, and where they fit within the sales funnel which could provide some inspiration for your planning.

There are some good pointers here, with specific approaches that you can take at each stage of the journey.

Check out the full listing below – while you can read more on the Orbit Media website.

Source link

Continue Reading

SOCIAL

Meta Soars by Most in Decade, Adding $100 Billion in Value

Published

on

Meta Soars by Most in Decade, Adding $100 Billion in Value

Correction: February 2, 2023 This article has been revised to reflect the following correction: An earlier version of this article misstated how much Meta expected to spend on its deal with the virtual reality start-up Within. It is $400 million, not $400 billion. Meta’s stock surged on Thursday …

Source link

Continue Reading

SOCIAL

Twitter’s Cancelling Free Access to its API, Which Will Shut Down Hundreds of Apps

Published

on

Twitter’s Cancelling Free Access to its API, Which Will Shut Down Hundreds of Apps

Well, this is certainly problematic.

Twitter has announced that, as of February 9th, it’s cutting off free access to its API, which is the access point that many, many apps, bot accounts, and other tools use to function.

That means that a heap of Twitter analytics apps, management tools, schedulers, automated updates – a range of key info and insight options will soon cease to function. Which seems like the sort of thing that, if you were Twitter, you’d want to keep on your app.

But that’s not really how Twitter 2.0 is looking to operate – in a bid to rake in as much revenue as absolutely possible, in any way that it can, Twitter will now look to charge all of these apps and tools. But most, I’d hazard a guess, will simply cease to function.

The bigger business apps already pay for full API access – your Hootsuite’s and your Sprout Social’s – so they’ll likely be unaffected. But it could stop them from offering free plans, which would have a big impact on their business models.

The announcement follows Twitter’s recent API change which cut off a heap of Twitter posting tools, in order, seemingly, to stop users accessing the platform through a third-party UI. 

Now, even more Twitter tools will go extinct, a broad spread of apps and functions that contribute to the real-time ecosystem that Twitter has become. Their loss, if that’s what happens, will have big impacts on overall Twitter activity.

On the other hand, some will see this as another element in Twitter’s crackdown on bots, which Twitter chief Elon Musk has made a personal mission to eradicate. Musk has taken some drastic measures to kill off bots, some of which are having an impact, but Musk himself has also admitted that such efforts are reducing overall platform engagement

This, too, could be a killer in this respect

It’ll also open the door to Twitter competitors, as many automated update apps will switch to other platforms. This relates to things like updates on downtime from video games, weather apps, and more. There are also tools like GIF generators and auto responders – there’s a range of tools that could now look for a new home on Mastodon, or some other Twitter replicant. 

In this respect, it seems like a flawed move, which is also largely ignorant of how the developer community has facilitated Twitter’s growth. 

But Elon and Co. are going to do things their own way, whether outside commentators agree or not – and maybe this is actually a path to gaining new Twitter data customers, and boosting the company’s income. 

But I doubt it.

If there are any third-party Twitter apps that you use, it’ll be worth checking in to see if they’re impacted before next week.



Source link

Continue Reading

Trending

en_USEnglish