Snap Inc. Announces New Tools and Monetization Opportunities for Creators; Launches Web Destination for Spotlight, Snapchat’s User-Generated Entertainment Platform

Rhea-AI Summary

Snap Inc. (NYSE:SNAP) has introduced new tools to enhance Creator engagement on Snapchat. The Story Studio app offers mobile editing features for creating advanced vertical videos, launching later this year on iOS for free. Key features include insights into trending topics, access to licensed music, and advanced editing capabilities. Spotlight is reaching 125 million monthly active users with a 70% increase in daily viewership. Additionally, a Gifting feature will allow fans to support Creators through Snap Tokens, enhancing direct interactions. Snap has paid over $130 million to Creators since November.

Positive

• Launch of Story Studio app enhances content creation capabilities for Creators.
• Spotlight reaches 125 million users, indicating strong engagement.
• Creators earned over $130 million through Snap's monetization efforts since November.

Negative

• None.

Snap Inc. (NYSE:SNAP) today announced new tools, workflows and monetization opportunities to support Creators’ growth on Snapchat. Story Studio is Snap’s new standalone app that offers powerful editing tools to make professional content for mobile, on mobile. It’s a fast and fun way to make more advanced, engaging vertical videos that share right to Snapchat - and anywhere else. Built for Creators, Story Studio offers insights into trends happening on Snapchat. It is launching later this year on iOS and will be available for free. The app’s suite of tools and features include:

• Insights into trending #Topics, Sounds and Lenses across Snapchat
• Access to Snap’s robust catalog of licensed music and audio clips for use in video projects
• Frame-precise trimming, slicing and cutting, as well as frame-precise placement of creative elements like captions, stickers, Sounds and other media layers
• Visual effects using Snap's unique augmented reality technology via Lenses and cross-clip transitions
• The ability to save and edit projects until you’re ready to share
• Direct posting of the finished video to Spotlight or Stories (via Creative Kit), download to your camera roll, or open it in other installed apps
• Easy login with Snapchat (via Login Kit)

Spotlight is rolling out globally, and already reaches 125 million monthly active users. The number of viewers watching Spotlight for at least 10 minutes per day grew by over 70% from January to March. Snap continues to offer millions per month to reward Snapchatters for their creativity. Since launching in November, over 5,400 Creators have earned more than $130 million dollars.

Snap also launched a new destination to watch Spotlight content on the web, even without a Snapchat account. There, Creators and brands who lean on desktop tools like Final Cut Pro can easily upload content into Spotlight directly from Chrome or Safari, even in high-definition 4k video resolution. Visit: Snapchat.com/Spotlight.

In addition, Snap is expanding the monetization opportunities available to Creators through a new feature called Gifting, and offering new ways for fans to connect with their favorite Creators.

A Gift is a show of support Creators can receive from their fans who want to build meaningful personal relationships with them through Story Replies, which are direct messages a Creator can choose to repost to start a broader conversation around the topics they love. Creators have control over the types of messages they receive with custom filtering, so conversations stay respectful and fun. Our Creator community uses Story Replies as a way to build stronger relationships and engage with their fans. In the Middle East, where the Creator community is thriving, over 90% of Snap Stars receive Story Replies from their fans.

When a subscriber sees a Snap that brings delight to their day, they can purchase Snap Tokens to send a Gift, and kick start a conversation with the Snap Stars they love. Snap Stars earn a share of the revenue from Gifts received through Story Replies. Gifting will start to roll out to Snap Stars later this year on Android and iOS.

About Snap Inc.

Snap Inc. is a camera company. We believe that reinventing the camera represents our greatest opportunity to improve the way people live and communicate. We contribute to human progress by empowering people to express themselves, live in the moment, learn about the world, and have fun together. For more information, visit snap.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210520005337/en/

FAQ

What is the Story Studio app by Snap Inc. (SNAP)?

The Story Studio app is a new tool that offers advanced mobile editing features for creating vertical videos and engaging content, launching later this year.

How many monthly active users does Spotlight have for Snap Inc. (SNAP)?

Spotlight currently reaches 125 million monthly active users, demonstrating significant user engagement.

What are Snap Tokens in relation to Snap Inc. (SNAP)?

Snap Tokens are used by fans to send Gifts to Creators, enhancing interactions and support.

How much has Snap Inc. (SNAP) paid to Creators since November?

Since November, Snap has paid over $130 million to Creators through various monetization initiatives.

What is the Gifting feature being launched by Snap Inc. (SNAP)?

The Gifting feature allows fans to support their favorite Creators by sending Gifts through Story Replies, starting later this year.