Snapchat maker to offer monthly grants of up to $50,000 to these creators in India | The Financial Express

Snapchat maker to offer monthly grants of up to $50,000 to these creators in India

Starting this month, Snap will give awards of up to $50,000 (roughly Rs 40 lakhs) each month to independent creators

Snapchat maker to offer monthly grants of up to $50,000 to these creators in India
Snapchat maker to offer monthly grants of up to $50,000 to these creators in India

Snap Inc, parent of Snapchat has launched Snapchat Sounds Creator Fund, a new grant program which is designed to support upcoming and independent artists in India.

Starting this month, Snap will give awards of up to $50,000 (roughly Rs 40 lakhs) each month to independent creators in India who are releasing music on Snapchat through DistroKid, an independent music distributor that allows musicians to upload their legally purchased music to streaming services.

The company has partnered with DistroKid for handling and distribution of rewards of $2,500 (roughly Rs 2 lakhs) to as many as 20 artists each month.

Lakshya Malu, Interim – Market Development Lead of Snapchat while commenting on the launch said, “Snap wants to help emerging, independent artists produce quality content and build their brands by recognizing Sounds creators who are driving trends and defining cultural moments – not just based on their follower numbers. We are excited to support independent and emerging artists in India who are driving creations on Snapchat. By providing meaningful funding and creative support,
our goal is for artists to feel empowered to continue creating and pursue a career in music.”

The company in a statement said, as per the business, independent musicians in India are crucial to generating new video content, influencing online trends and creating cultural moments on both Snapchat and Spotlight.

With this feature, users will be able to include both their original music and music from other sources to their Snaps using the Sounds function. According to the firm, over 2.7 billion videos on Snapchat have been made utilising music from Sounds since the service’s introduction, and those videos have received over 183 billion global views.

In order to monetise its market base of more than 100 million users in India, Snapchat also launched its paid subscription service Snapchat+ earlier this year for Rs 49 per month.

The Sounds Creator Fund program is already live in the US. 

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First published on: 08-11-2022 at 16:53 IST