The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Snap Inc, owner of photo messaging app Snapchat, is introducing a new feature to help notable Snapchat personalities earn money and is also developing new augmented reality glasses.
The Santa Monica, California-based company said on Thursday it will introduce a new version of its Spectacles glasses, the first to feature augmented reality, as part of a push to create ways for users to interact with their environment.
The plans, announced at Snap’s annual Partner Summit for app developer and brand partners, are aimed at helping the company compete for more usage in a crowded social media landscape, as competitors like YouTube, Instagram and TikTok launch new features to court content creators.
Snap has paid $1 million per day collectively to users who post short-form videos to its feature called Spotlight since launching it in November. A Snap spokeswoman said on Thursday the company will no longer commit to paying $1 million per day, and instead will pay “millions per month.”
ADVERTISEMENT
The shift on payments comes as Snap and other social media platforms look for ways to build more sustainable features to help influencers to earn money, such as through gifts and tips from fans.
Spotlight video creators have earned more than $130 million since November, Snap said.
The company said it will introduce a camera feature called Screenshop, which, for example, will let users take a photo of an outfit they see, and then receive clothes recommendations from brands to recreate the look.
The new version of the Spectacles glasses will not be sold to the public. They are aimed at artists and developers who want to build augmented reality experiences on Snapchat.
By Sheila Dang
The algorithms TikTok relies on for its operations are deemed core to ByteDance overall operations, which would make a sale of the app with algorithms highly unlikely.
The app, owned by TikTok parent company ByteDance, has been promising to help emerging US labels get started selling in China at the same time that TikTok stares down a ban by the US for its ties to China.
Zero10 offers digital solutions through AR mirrors, leveraged in-store and in window displays, to brands like Tommy Hilfiger and Coach. Co-founder and CEO George Yashin discusses the latest advancements in AR and how fashion companies can leverage the technology to boost consumer experiences via retail touchpoints and brand experiences.
Four years ago, when the Trump administration threatened to ban TikTok in the US, its Chinese parent company ByteDance Ltd. worked out a preliminary deal to sell the short video app’s business. Not this time.