Snap says its rival, TikTok, already had 100 million users in January 2021, just two months after it launched “Spotlight”. TikTok said it had 100 million monthly users in the United States alone as of June 2020, and signs suggest the app has only continued to grow since then.
Snap has put in lots of funds in Spotlight in order to help the section catch on. The company promised to give away $1 million per day to creators for more than a month in order to get people posting videos, making the social media filled with fun stuff to watch. Creators are now uploading an average of 175,000 videos per day, Snap CEO Evan Spiegel said in prepared remarks for investors.
“While it is still very early in the development of this new content platform, we are highly encouraged by the initial results and excited about the potential for Spotlight to further expand our monetization opportunity in the future,” Snap CFO Derek Andersen said in prepared remarks. Snap now boasts 265 million daily users overall, up from 249 million the prior quarter, the company said in its Q4 2020 earnings release.
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