The Santa Monica, California-based company
said on Thursday it will introduce a new version of its Spectacles glasses, the
first to feature augmented reality, as part of a push to create ways for users
to interact with their environment.
The plans, announced at Snap's annual
Partner Summit for app developer and brand partners, are aimed at helping the
company compete for more usage in a crowded social media landscape, as
competitors like YouTube, Instagram and TikTok launch new features to court
content creators.
Snap has paid $1 million per day
collectively to users who post short-form videos to its feature called
Spotlight since launching it in November. A Snap spokeswoman said on Thursday
the company will no longer commit to paying $1 million per day, and instead
will pay "millions per month."
The shift on payments comes as Snap and
other social media platforms look for ways to build more sustainable features
to help influencers to earn money, such as through gifts and tips from fans.
Spotlight video creators have earned more
than $130 million since November, Snap said.
The company said it will introduce a camera
feature called Screenshop, which, for example, will let users take a photo of
an outfit they see, and then receive clothes recommendations from brands to
recreate the look.
The new version of the Spectacles glasses
will not be sold to the public. They are aimed at artists and developers who
want to build augmented reality experiences on Snapchat.
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