SUMMARY
Starting November, Snap will provide monthly grants of up to $50,000 to independent artists in India
Snap has partnered with DistroKid to facilitate and distribute payments of $2,500 to up to 20 artists per month
Few months back, Snapchat rolled out its paid subscription service Snapchat+ in India, where it has over 100 Mn users
Snap Inc, the parent of multimedia messaging app Snapchat, has launched Snapchat Sounds Creator Fund, a new grant program designed to support emerging and independent artists in India.
Starting this month, Snap will provide monthly grants of up to $50,000 to independent artists in India who are distributing music on Snapchat via DistroKid, an independent music distribution firm through which artists can distribute their licensed music to streaming platform,
Snap has partnered with DistroKid to facilitate and distribute payments of $2,500 to up to 20 artists per month.
In a statement, the company said that independent artists in India play a critical role in driving video creations, inspiring internet trends and defining cultural moments on Snapchat and Spotlight alike.
“Snap wants to help emerging, independent artists produce quality content and build their brands by recognising Sounds creators who are driving trends and defining cultural moments – not just based on their follower numbers,” Lakshya Malu, Interim-Market Development Lead, Snap Inc. said.
“By providing meaningful funding and creative support, our goal is for artists to feel empowered to continue creating and pursue a career in music,” Malu added.
Sounds is a feature that allows users to add licensed music to their Snaps as well as their own creations. Since launching Sounds, over 2.7 Bn videos have been created on Snapchat using music from Sounds and have garnered over 183 Bn views globally, as per the company.
Earlier this year, Snapchat also rolled out its paid subscription service Snapchat+ in India for INR 49 per month to monetise its market base of more than 100 Mn users in the country.
Snap has reportedly also onboarded former Meta India head Ajit Mohan as the President of the APAC business.
With increasing internet penetration and smartphone users, and a big population of people under 30 years, India is an important market for all major social media and networking companies.
Snapchat competes with the likes of Instagram Reels and YouTube Shorts, as well as homegrown startups like ShareChat, Chingari, and Moj, in the Indian market.
