Social messaging app giant Snapchat has unveiled a new invitation-only grant, the Sounds Creator Fund, designed to recognise emerging, independent artists on its platform, with payments available from $5k to a whopping £100k per month.
The scheme, operated in tandem with digital distribution service, Distrokid, will select an undisclosed number of recipients each month from Snapchat Sounds creators, starting in August. While the criteria for selection are undisclosed, it's likely the firm will select from top performing uploaders on the platform.
"We want to support the independent and emerging artists that are driving creation on Snapchat," said Ted Suh, Global Head of Music Partnerships at Snap, Snapchat's parent company.
"By providing meaningful funding and creative support, our goal is for artists to feel empowered to continue creating and pursue a career in music."
Creator Fund recipients will also be featured heavily in Snapchat’s Spotlight section, boosting exposure across the platform. In order to be eligible for the grant, you’ll need to be US-based and over 16 years of age.
We’ll be watching closely to see how the Sounds Creator Fund develops, how many grants are ultimately awarded and, of course, hoping it really does encourage exciting new talent.
Distrokid is already a busy player in this area, running established royalty or spotlight schemes with both Facebook overlords Meta and TikTok.