Snapchat recently announced its new monthly grant of up to $100,000 to help pay independent artists distributing music on their platform.
Sounds Creator Fund is eligible to artists using Distrokid on Snapchat, each song can get a monthly grant of up to $5,000 with a cap at 20 songs according to Variety.
Snapchat will analyse the artist’s level of engagement on the platform prior to approving and will not be funding those already signed.
“Snap wants to help emerging, independent artists produce quality content and build their brands by recognising Sounds creators who are driving trends and defining cultural moments – not just based on their follower numbers,” the company told Variety in a statement.
Like TikTok, Snapchat released a similar system in 2020 named Sounds on Snap which allows users to add music to their videos with 2.7 billion videos using this feature.
People attending particular Live Nation events will be able to use Snapchat to unlock these AR creations with special lenses.
According to Snapchat, the use of AR will “elevate festivals and concerts beyond stages and screens to create a deeper connection between artists and fans.” Stay tune for more updates here!