It looks like big names on Snapchat are gonna be getting similar treatment to some of the most popular YouTubers out there, as Snap Inc. has announced a policy similar to YouTube’s stating that they are going to start paying its top creators in exchange for ad revenue.
Snap CEO Evan Spiegel said in the company’s prepared quarterly remarks that the company has “neglected the creator community on Snapchat that creates and distributes public Stories for the broader Snapchat audience.” Spiegel indicated that Snapchat would build more options for monetization and distribution, as well as making it possible for users to share their posts with people outside of their friend groups.
YouTube gives the opportunity for any user to earn money from advertisements if they have over 10,000 channel views. The new policy could very well make Snapchat a far more lucrative social network, but it may prove difficult as it has a smaller number of users relative to other big social media outlets at 178 million users who are active daily. A small user base is essentially what caused the collapse of Vine.
Other social media giants like Facebook, Twitter, and Instagram don’t pay users via any sort of set system. In these cases, users rely on sponsored content in order to generate revenue from their social media presence.
This sort of policy has worked out very well for YouTube, but given Snapchat’s formula of extremely brief posts that go away after 24 hours at most, I’m not sure if it will work out the same way. Regardless, though, it’s still something cool to check out as it develops.
[via The Verge]