Snapchat launches editing tool, gifting and marketplace for creators

To help build its creator community, Snap is launching Story Studio, a free stand-alone mobile editing app for creators. Users will be able to explore trends and insights and share videos right to Snapchat or other platforms. The company said Story Studio will launch on iOS later in 2021.

The app will also offer insights into trends happening on Snapchat. It is launching later this year on iOS and will be available for free.

Snapchat is also launching ‘gifting’ using which subscribers can now send gifts to official Snap Stars to kickstart conversations. Snap Stars earn a share of the revenue from gifts, which are received through story replies and purchased via Snapchat Tokens.

The social media platform has is extending the short video feature Spotlight on the web at where creators can upload a video into Spotlight directly from Chrome or Safari, and anyone, even without a Snapchat account, can access it.

Snapchat has also announced the launch of Creator Marketplace. Brands can use this new portal in the self-serve business manager to find and contact verified creators, starting with top AR lens creators and, in the future, Snap Stars and Creators on Spotlight.

Snap said more than 5,400 creators have collectively earned over $130 million dollars thus far. Because the company will continue to pay in some form, it’s unlikely users will completely jump ship to competitors that also pay users, like YouTube and TikTok.