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Snapchat to Offer $25K 'Prizes' for Top Videos From Creators

Starting in November, TikTok will launch Spotlight Challenges, named after Snapchat's user-generated platform that mimics TikTok's for you page, U.S. users age 16 and older can receive awards from a pool of money ranging from $1,000 to $25,000 for top-performing videos that meet the challenge criteria. Though the pot of money will be split among the winners for each challenge, the minimum prize an individual will receive is $250, according to a Snap spokesperson. Snapchat is just one of many social media giants amping up their incentives for creators to use — and stay on — their platforms. Facebook and Instagram said they plan to pay a total of $1 billion to creators through 2022 for creating content on their respective platforms, while TikTok has a $1 billion creator fund in the U.S. that will be paid out over three years. YouTube also has a $100 million fund for its shortform video offering, Shorts, and LinkedIn last month launched a $25 million program for 100 U.S. creators.

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