Snap is finally ready to compete with TikTok and will pay creators to post on the platform. The company is officially announcing a new section of Snapchat today called Spotlight that’ll surface vertical video content from users that’s more meme-like and jokey instead of the day-in-the-life content Snap previously encouraged. Imagine, basically, TikTok but in Snapchat.
To entice people to post snaps regularly, the company says it’ll divvy up $1 million between the most popular creators on the app per day through the end of 2020. This means if someone has a particularly viral video, they might earn a large chunk of the $1 million pot. It doesn’t matter whether that person has a massive number of subscribers; the amount people receive is...