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Snap Launches Video-sharing Feature 'Spotlight'

Snap Inc. (SNAP) is launching a video-sharing feature 'Spotlight' for its Snapchat app. It will pay more than $1 million every day to creators for the most-viewed daily video posts.

The company will offer daily payouts through at least the end of 2020. Snapchatters must be 16 or older and obtain parental consent to earn, the company said in a statement.

Spotlight looks similar to China-based ByteDance's TikTok and Instagram's Reels.

Spotlight will be available in the US, Canada, Australia, New Zealand, the UK, Ireland, Norway, Sweden, Denmark, Germany, France.

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