Snap to Pay $1 Million a Day to Creators for Spotlight Videos

About This Source - Bloomberg QuickTake: Now

Bloomberg L.P. is a privately held financial, software, data, and media company headquartered in Midtown Manhattan, New York City.

It was founded by Michael Bloomberg in 1981, with the help of Thomas Secunda, Duncan MacMillan, Charles Zegar, and a 12% ownership investment by Merrill Lynch.

Recent from Bloomberg QuickTake: Now:

  • Mongolia Premier Resigns, Blames President Over Covid Protests
  • Trump Impeachment: McConnell Proposes Trial for February
  • Hong Kong to Order First-Ever Covid-19 Lockdown in Kowloon
  • Bloomberg Quicktake: Now published this video item, entitled “Snap to Pay $1 Million a Day to Creators for Spotlight Videos” – below is their description.

    Snap Inc. is rolling out a new tool for its Snapchat app to feature popular videos, called Spotlight, and said it will pay out $1 million a day to creators of the top-performing posts. To earn the money, video submitters to Spotlight don’t have to have large followers — or even have public profiles. Instead, an algorithm will determine what to show Snapchat users based on how often others view the post. If others view the same video repeatedly, for instance, that’s a signal it’s catching on and will spur the algorithm to distribute it more widely. The new feature will help Snapchat in a competitive market for posting entertaining videos online, dominated by Facebook Inc.’s Instagram and Google’s YouTube, with China-based ByteDance Ltd.’s TikTok rising fast among younger audiences. Snap Chief Executive Officer Evan Spiegel has eschewed public metrics, such as likes and follows, that drive the market for influencers, the most-followed users on photo-sharing apps. On Snapchat, which hit 249 million daily active users in the third quarter, likes are private, there is no re-sharing of videos and displaying follower numbers is optional. Without those metrics, though, it’s harder for users to get popular, noticed by brands and hired to create sponsored content — the main way young social media stars make a living. Spiegel wants Spotlight to reward popular videos without their creators having to worry about consistency or the number of followers. Social media platforms are striving to attract the makers of quality content. TikTok plans to spend more than $1 billion in the U.S. in the next three years on video-makers. Instagram has been paying some of TikTok’s top stars to test out its TikTok copycat feature, Reels. Instagram also recently started for the first time sharing revenue on video ads with creators, like YouTube does. By submitting my information, I agree to the Privacy Policy and Terms of Service and to receive offers and promotions from Bloomberg. It’s unclear whether the random chance for a big payout will pull users’ great ideas away from TikTok and Instagram, but Snap provides a unique option: a video’s maker can choose to be private, offering a break from influencer culture. Snap has previously benefited by betting on a product that lowers pressure for users. Stories, the Snapchat videos that disappear after 24 hours, became so popular that the product has been copied by Instagram, Facebook, LinkedIn and Twitter Inc. Other companies have tried the payout strategy in the past, including the game-show app HQ Trivia. But most users don’t win those prizes, and the novelty of competing for them can wear off quickly. Snap shares have almost tripled this year to a record $45.38 earlier this month as young people turn to Snapchat to message friends videos during the coronavirus. The app also features television shows and magazines designed for a young audience on mobile. Spotlight will start in the U.S., Canada, Australia, New Zealand, the U.K., Ireland, Norway, Sweden, Denmark, Germany, and France, the company said. Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world. To watch complete coverage on Bloomberg Quicktake 24/7, visit http://www.bloomberg.com/qt/live, or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app. Connect with us on… YouTube: https://www.youtube.com/user/Bloomberg Breaking News on YouTube: https://www.youtube.com/c/BloombergQuickTakeNews Twitter: https://twitter.com/quicktake Facebook: https://www.facebook.com/quicktake Instagram: https://www.instagram.com/quicktake

    Bloomberg Quicktake: Now YouTube Channel

    Got a comment? Leave your thoughts in the comments section, below. Please note comments are moderated before publication.

    In This Story: Canada

    Canada is a country in the northern part of North America. It extends from the Atlantic to the Pacific and northward into the Arctic Ocean, covering 9.98 million square kilometres (3.85 million square miles), making it the world’s second-largest country by total area.

    Its southern and western border with the United States, stretching 8,891 kilometres (5,525 mi), is the world’s longest bi-national land border. Canada’s capital is Ottawa, and its three largest metropolitan areas are Toronto, Montreal, and Vancouver.

    Various Indigenous peoples inhabited what is now Canada for thousands of years before European colonization. The Canada Act 1982, which severed the vestiges of legal dependence on the British Parliament. Canada is a parliamentary democracy and a constitutional monarchy in the Westminster tradition, with a monarch and a prime minister who serves as the chair of the Cabinet and head of government.

    As a highly developed country, Canada has the seventeenth-highest nominal per-capita income globally as well as the thirteenth-highest ranking in the Human Development Index. Its advanced economy is the tenth-largest in the world, relying chiefly upon its abundant natural resources and well-developed international trade networks.

    2 Recent Items: Canada

  • Rakheem Cornwall Stars For The Leeward Islands! | Colonial Medical Insurance Super50 Cup
  • What’s next now that Canada’s governor general has resigned?
  • In This Story: COVID-19

    Covid-19 is the official WHO name given to the novel coronavirus which broke out in late 2019 and began to spread in the early months of 2020.

    Symptoms of coronavirus

    The main symptoms of coronavirus are:

    • a persistent new cough (non productive, dry)
    • a high temperature (e.g. head feels warm to the touch)
    • shortness of breath (if this is abnormal for the individual, or increased)

    Latest News about Covid-19

    Below are stories from around the globe related to the 2020 outbreak of novel Coronavirus – since the WHO gave the Covid-19 naming. Most recent items are posted nearest the top.

    5 Recent Items: COVID-19

  • Coronavirus: Yoga and beer at Cambodia brewery helps people relieve Covid-19 stress
  • WEF Founder Schwab on Pandemic Recovery, Inequality, Climate
  • France to require negative PCR test upon any plane arrival amid surge in Covid-19 cases
  • Minister Refuses to Say Whether the Govnt Made a Mistake Not Closing Borders Earlier | GMB
  • Brexit, Covid Cause U.K.-EU Border Hold-Ups
  • In This Story: Denmark

    Denmark, officially the Kingdom of Denmark, is a Nordic country in Northern Europe.  The capital is Copenhagen. Denmark proper, consists of a peninsula, Jutland, and an archipelago of 443 islands.

    The Kingdom of Denmark comprises Denmark proper and the two autonomous territories in the North Atlantic Ocean: the Faroe Islands and Greenland. Home rule was established in the Faroe Islands in 1948; in Greenland home rule was established in 1979 and further autonomy in 2009.

    Denmark has highly developed mixed economy. Denmark became a member of the European Economic Community (now the EU) in 1973, but negotiated certain opt-outs; it retains its own currency, the krone. It is among the founding members of NATO, the Nordic Council, the OECD, OSCE, and the United Nations; it is also part of the Schengen Area. Denmark has close linguistic ties to its Scandinavian neighbours.

    2 Recent Items: Denmark

  • The Children’s Cartoon Character With a Long Penis That Can Operate a Barbecue | This Morning
  • International co-operation is the ultimate solution to global challenges – UN75 final report
  • In This Story: France

    France is a republic and the largest Western European nation. Through expansion and colonisation in the 17th and 18th centuries France became a great power and still retains territories around the world. It has a seat on the UN security council and is the world’s fourth most wealthy country with a high standard of living and strong cultural identity.

    6 Recent Items: France

  • France’s rural noises and smells now protected after rows with secondary-home residents over rooster
  • Nigeria court overturns teen’s 10-year prison sentence for blasphemy
  • France to require negative PCR test upon any plane arrival amid surge in Covid-19 cases
  • US top scientist Fauci ‘liberated’ to no longer work under Trump
  • Biden turns the page on Trump’s handling of Covid-19 pandemic in US
  • Africa’s Covid-19 mortality rates higher than global average, head of Africa CDC warns
  • In This Story: Germany

    Germany, officially the Federal Republic of Germany, is a country in Central and Western Europe. It lies between the Baltic and North seas to the north, and the Alps to the south.

    Germany is a federal parliamentary republic led by a chancellor. With over 83 million inhabitants of its 16 constituent states, it is the second-most populous country in Europe after Russia, as well as the most populous member state of the European Union. Its capital and largest city is Berlin, and its financial centre is Frankfurt; the largest urban area is the Ruhr.

    5 Recent Items: Germany

  • Alexei Navalny releases investigation into Vladimir Putin’s wealth
  • Top 10 Goals 2020/21 Reyna, Bailey, Angelino & More … So Far
  • LIVE: White House Press Secretary Jen Psaki Holds Briefing as Biden Unveils Covid Plan
  • Biden Urges Americans to ‘Mask Up,’ Says It May Save 50,000 Lives by April
  • Biden Says 100,000 Americans May Die from Covid in the Next Month
  • In This Story: Ireland

    Ireland is an island in the North Atlantic. It is separated from Great Britain to its east by the North Channel, the Irish Sea, and St George’s Channel.

    Geopolitically, Ireland is divided between the Republic of Ireland (officially named Ireland), which covers five-sixths of the island, and Northern Ireland, which is part of the United Kingdom. As of 2016, 4.8 million people live in the Republic of Ireland, and 1.8 million live in Northern Ireland.

    The Irish climate is influenced by the Atlantic Ocean and thus very moderate, and winters are milder than expected for such a northerly area, although summers are cooler than those in continental Europe. Rainfall and cloud cover are abundant.

    A strong Irish culture exists, as expressed through Gaelic games, Irish music and the Irish language. The island’s culture shares many features with that of Great Britain, including the English language, and sports such as association football, rugby, horse racing, and golf.

    3 Recent Items: Ireland

  • St. Mirren 3-2 Celtic | 2013 League Cup Semi-Final | League Cup Classics
  • Road To Cheltenham – Series 2, Episode 10 – (21/01/2021) – Racing TV
  • Brexit: 200 lorries turned back at UK crossings every day due to new paperwork
  • In This Story: New Zealand

    New Zealand is an island country in the southwestern Pacific Ocean. It consists of two main landmasses—the North Island and the South Island —and around 600 smaller islands, covering a total area of 268,021 square kilometres.

    4 Recent Items: New Zealand

  • Fauci Pledges U.S. Covax Support in Re-Engagement With WHO
  • Helen Clark discusses the WHO inquiry into the global response to COVID | 7.30
  • Focus: PM unveils details of housing plan | nzherald.co.nz
  • Independant panal says China could’ve avoided the coronavirus pandemic | DW News
  • In This Story: Norway

    Norway is a Scandinavian country encompassing mountains, glaciers and deep coastal fjords. Oslo, the capital, is a city of green spaces and museums. Preserved 9th-century Viking ships are displayed at Oslo’s Viking Ship Museum. Bergen, with colorful wooden houses, is the starting point for cruises to the dramatic Sognefjord. Norway is also known for fishing, hiking and skiing, notably at Lillehammer’s Olympic resort. 

    2 Recent Items: Norway

  • Norwegian Air gets backing for survival plan
  • Should we raise concern about vaccines after elderly deaths in Norway?
  • Leave a Comment