Snapchat is opening up its revenue sharing program for more creators posting to Stories, the ephemeral photos and videos that users share with friends and followers that are available for 24 hours.
To be eligible to join the program, which is invite-only, creators must have at least 50,000 subscribers, more than 25 million monthly snap views and post more than 10 Stories per month. Those in the program will then receive recurring cash payments coming from the ads placed between their Stories.
“This program is designed with established creators in mind to help them receive consistent rewards for their investment in Snapchat,” Brooke Berry, the head of talent development, said at the company’s Snap Partner Summit on Wednesday.
In a separate interview with The Hollywood Reporter, Jim Shepherd, the director of global talent partnerships, declined to share what the exact revenue split is but said it was “competitive” with other platforms like YouTube, which launched its revenue sharing program for short-form creators in February and allocates a 45 percent cut of the company’s monthly ad revenue for creators.
“We’ve expanded the program slowly and steadily over the past year to make sure that as we extend this to more creators, the revenue remains meaningful for those in the program,” Shepherd said. “We’re really, really happy with the scalability of this program.”
Shepherd also noted that the revenue sharing program differs from a creator fund, given that the funds only have a set amount of money that gets doled out to creators. “When they’re posting, they’re generating ad inventory and they’re making money for themselves and Snap,” Shepherd said. “We’re going to have to continue to sell in ads for this program to work, and we know that we’re confident in the ability of our sales team and we just think this is a great business model for us.”
Outside of established creators with more than 50,000 subscribers, the social platform is also encouraging more users 18 and older to post public stories and potentially build their following that way. “It’s a simple and seamless way to begin the creator journey,” Berry said.
Earlier during the event, company executives also announced that Snapchat+, the social platform’s subscription product, has crossed 3 million subscribers.
