Snapchat promotes new feature to give away more than $1M every day

The social media app launched "spotlight" to keep up with TikTok and Instagram Reels, that will highlight viral snaps to a featured page that could pay the creator a minimum of $250.
2:15 | 11/25/20

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Transcript for Snapchat promotes new feature to give away more than $1M every day
Now turning to Snapchat taking aim at tiktok and Instagram with a new feature. A sum of up to $1 million a day set to be shared by viral content creator. Social media platform tries to gain ground on its rivals and Eva pilgrim joins us with more. Reporter: Good morning, janai. Yeah, aching money off of a post is not new when it comes to social media. What is new is Snapchat is getting in on the action and they're paying out big to get use attorneys create buzz about the brand. Snapchat is giving away cold, hard cash and a lot of it. About a million dollars a day. The social media app launching a new feature called spotlight trying to keep up with popular apps like tiktok. Instagram's reels and Twitter's recently launched fleets. So how does it work? Snapchat's spotlight will highlight snaps that go viral on a featured page and an algorithm looking at posts from celebrities to students, monitoring how many favorites a video gets and how many times it's shared or skipped. Recommending the most engaging posts to viewers. This a huge shift for the app which was primarily used as a messaging service between friends. After years of being this platform that isn't for creator and influencers they're warming up to it. You need those people to thrive. It's a platform. It's those popular influencers that will keep people engaged with the app. Reporter: So how does one get a piece of the million dollar pie? First you have to be over the age of 16 and follow a long list of rules including among other things copyright guidelines. The company saying it will also actively monitor for fraud to ensure that we only account for authentic engagement. Why? More views means more money. The minimum payout if your video makes it to the featured page, $250. and Snapchat says they will be giving away this money at least through the end of the year. Okay, Eva, thanks very much.

This transcript has been automatically generated and may not be 100% accurate.

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