Snap Inc., the owner of the popular social networking application “Snapchat”, is preparing to launch a new feature on its application called “Spotlight”, which the company said will pay about $ 1 million per day to its users with the best offers on the network.
The users’ access to funds will not be linked to the number of their followers on the application, but through a new algorithm created by the company that allows the video to be viewed on a wider range of users if it is preferred by viewers, according to what Bloomberg reported.
The new feature helps the company enter a fierce competition line in the online entertainment video market, which is dominated by Facebook and Google through the YouTube and Instagram applications, in addition to the famous Tik Tok application of the ByteDance company. »Chinese.
The number of daily active users on the “Snapchat” application is about 249 million users at the end of the third quarter of this year at a time when the application does not currently offer the feature of video sharing in addition to making the appearance of the number of followers optional, which are the things that hinder the creation of influencers on the famous application and from Then the possibility to create paid content.
Shares of Snapchat have increased nearly three times since the beginning of this year, hovering around $ 45.3 per share, with a steady rise in the number of users in the midst of the Corona pandemic, which caused an unrivaled demand for video applications over the Internet.
The company stated that the “Spotlight” feature will be available initially in Canada, Australia, New Zealand, the United Kingdom, the United States, Ireland, France, Germany and Sweden, before being widely applied in other countries at a later time.