Snap's new creator fund will award independent musicians up to $100,000 per month
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San Francisco: Popular social media platform Snap, is launching a new Sounds Creator Fund to financially support independent artists who are distributing music on Snapchat via DistroKid. Starting in August, the company will distribute payments for up to 20 songs per month at $5,000 per song.
Snap anticipates awarding up to $100,000 in grants each month. The company told that its Music Team will select songs from emerging artists who have created songs that are driving content across the app. Artists must be based in the United States and be at least 16 years old in order to be eligible for the fund.
The company said that the new grant programme is designed to recognize emerging, independent artists for their critical role in driving video creations, inspiring Internet trends, and defining cultural moments.
"We want to support the independent and emerging artists that are driving creation on Snapchat," Ted Suh, Global Head of Music Partnerships at Snap, said in a statement.
"By providing meaningful funding and creative support, our goal is for artists to feel empowered to continue creating and pursue a career in music," Suh added.
Popular Sounds will also have the opportunity to be included in our Sounds product, in a Snapchat Lens or Spotlight.
The company mentioned that artists must be based in the US and must be over 16 where applicable, and have parental consent.