Nov 24, 2020 4:00 AM PT
Spotlight, a new short video service launched by Snap on Monday, is set to take on the leaders in the space, TikTok and Instagram Reels.
Moreover, it has pledged to prime the creative engines of Snapchatters making videos by divvying up a daily pool of US$1 million for the day's best content.
Earnings are determined by a proprietary formula which rewards Snapchatters primarily based on the total number of unique video views a Snap gets in a given day, using Pacific Time, compared to the performance of other Snaps that day, the company explained in a news release.