Tech

Snap CEO Says Snapchat's $1M a Day Spotlight Fund Led to Too Much 'Copycat Content'

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Snap CEO Evan Spiegel said the company needed to make changes to its Spotlight fund after too many creators were copying one another in an attempt to cash in on the incentive program.

Snap CEO Evan Spiegel said the company needed to make changes to its Spotlight fund after too many creators were copying one another in an attempt to cash in on the incentive program.

"There was actually a lot of copycat content, so people would see the winning content that was making the most money and then make content just like it, instead of content that was more diverse," Spiegel said at the Goldman Sachs Communacopia Conference on Wednesday.

The incentive program first rolled out in 2020, when Snapchat unveiled a new feature, Spotlight, to promote public, shortform content from Snap creators as a means to compete with TikTok. At the time, Snapchat said it would pay $1 million a day to creators with the most popular Spotlight posts and, in May, announced it had paid out $130 million to 5,400 creators.

But this past June, the company scaled back its approach and said payouts would amount to "millions per week," rather than $1 million a day. Though the company has not disclosed its latest payment numbers, Spiegel said Snapchat has seen "record-high submissions" from creators.

"In evolving the program, we're hoping that we're going to attract a much more diverse base of content that responds to all sorts of different interests, rather than greatest common denominator copycat content," Spiegel said. "I think the changes in the program haven't slowed our momentum at all, and we're still finding ways to really reward creators, not only with views of their content, but also financially."

This article was originally published by The Hollywood Reporter.