Snapchat has launched Spotlight, a new feature that will pay $1 million daily to creators of top-performing videos. The platform aims to reward creativity regardless of account size or following, making it possible for any user to earn rewards through viral content.

The feature will appear as a new tab in the lower-right corner of the app's navigation. Content rankings are determined by Snapchat's proprietary algorithm, with rewards potentially split among multiple creators based on performance.

Initially launching in 11 countries including the United States, Canada, Australia, New Zealand, the United Kingdom, Ireland, Norway, Sweden, Denmark, Germany, and France, with plans for wider distribution later.

Key features of Spotlight:

• Open to all users, not just public accounts
• Strict content moderation policies
• Prohibits false information and conspiracy theories
• Bans hate speech, explicit content, bullying, and violence
• Must meet community guidelines for participation

This move comes as Snapchat experiences significant growth, with an 18% increase in daily users (249 million) and 52% revenue jump in Q3 2020. The feature appears to be Snapchat's answer to TikTok's 'Discover' tab, positioning itself to attract content creators who may be looking for new platforms with monetary incentives.

While the million-dollar daily reward is currently guaranteed through 2020, this aggressive strategy shows Snapchat's commitment to competing in the short-form video space and potentially attracting creators from other platforms like TikTok and Triller.

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