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750 thousand dollars from Snapchat for the creators of augmented reality tools
November 20, 2019
Although Snapchat's growth has been slowed down by Instagram, one of the areas Snapchat has continued to lead, is innovation in AR tools and visual features that make people hold the app.
Remember back in June when Snapchat saw a huge increase in downloads after the launch of 'Baby' and 'Gender Swap' lenses?
These types of common features and add-ons - which also include dog ears, rainbow vomit - all help give Snapchat a boost and pushes more people to download the app.
In order to stay ahead of the growing competition in the AR space and maintain innovation, Snapchat recently announced that it will pay more than $ 750,000 for its biggest AR star in 2020, three times what it paid creators in 2019.
That's a big commitment, especially when you think Snapchat is on track to generate about $ 2.1 billion in advertising revenue during the upcoming year. But as mentioned, Snapchat knows that innovation is essential - it can't compete with Instagram and Facebook for the size of the audience, but it can help maintain its place by introducing new and fun AR tools.
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