Snapchat has debuted a new revenue stream that caters to the app’s 300,000 augmented reality (AR) creators. Those users can now earn financial compensation by designing Lenses for the general public. Snap’s Lens Creator Rewards will pay up to $7,200 for each “top-performing” AR effect on its platform.
In a newsroom post, Snapchat said that its community has created over three million Lenses, which have been viewed more than five trillion times in all. Each month, the Rewards program will dole out bonuses to the creators whose Lenses drive the most traffic in the United States, India, and Mexico.
Lens Creator Rewards are available to Snapchat users in 40 countries. AR aficionados in eligible regions can apply for compensation through Snap’s Lens Studio.
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“Snapchatters love Lenses built by our global AR community of more than 300,000 AR creators, developers, and teams around the world,” said Snap Global Head of AR Developer Relations Joseph Darko in a statement. “At Snap, we’re committed to rewarding the value that AR creators bring to the platform as they advance their skills and grow their businesses through the new Lens Creator Rewards Program.”
As Snap invests more resources into augmented reality, it is developing multiple revenue streams centered around its Lenses. The social video app has encouraged creators and musicians to share their AR designs. For its most prolific Lens users, Snap offers support through an AR Innovation Lab called Ghost — as well as five-to-six-figure grants.
Late last year, Snap indicated that it planned to bring more financial support to Lenses. Its new offering in the AR world will complement its other revenue streams, including recently-launched options like Spotlight ads and a Stories monetization program.
Snap is betting that its investments in products and creators can revenue some concerning top-line trends. The company’s stock price fell in the wake of its Q2 2023 earnings call, when its execs advised investors to prepare for a rocky third quarter.
If its new program for Lens users catches on, Snap will at least keep creators happy, even if some of its investors are feeling uncertain about its prospects. More deals about Lens Creator Rewards can be found here.