Struggling Snapchat adds a TikTok-like cash prize contest

In an attempt to compete with TikTok, Snapchat is adding a new way for content creators to earn money.

Snapchat announced a new incentive program meant to motivate users to produce and share content on its social network with a new app feature called Spotlight Challenges. This new feature will reward some creators each week for making videos using specific lenses, doing certain activities, or playing a chosen sound inside the app’s TikTok competitor, Spotlight.

The challenges offer a new way for Snapchat to incentivise users to make videos for Spotlight; and it does so in a way that offers the company a lot of control. It can boost certain trends or try to encourage different types of content than people would typically make. That could help as it tries to differentiate Spotlight from TikTok and give people a reason to keep coming back to find something new.

A Snapchat spokesperson said in a report, “It’s also a potential revenue opportunity. Challenges won’t be sponsored at launch, but Snapchat may offer sponsored ones in the future.”