On the VidCon platform, Snap announced its first accelerator program for budding Black creators. Over the course of a year, Snap will pay out 25 selected Applicant $10,000 per month ($120,000 total) to help launch his career, a total investment of $3 million.
This program is Snap’s . is part of 523 Initiative, which aims to support underrepresented creators. Snap is also listing Google Pixel, UNCMMN and Westbrook Media as partners.
“Black creators face systemic barriers unique to the creator industry – from inequalities in compensation and attribution to toxic experiences,” the company wrote in a press release. “We believe that one of the ways we can help overcome some of those barriers is by providing mentoring and financial resources to emerging black creators in the early stages of their professional careers.”
Of course, the program is beneficial to Snap as well — they’re essentially making sure the 25 emerging creators have the money and support to make it big, but they’ll do so as Snap-first creators, in their efforts. can focus there. More straight than TikTok, Instagram reels or YouTube shorts.
Patreon also recently launched Pull Up, an incubator for creators of color, noting that BIPOC Manufacturer are paid 29% less than their white peers. These programs mark an industry-wide response to inequality in the maker economy. Last year, black dancers went on Tiktok on strike His viral dances were copied continuously without credits, and in 2020, a TikTok”jumbled updid this so that videos tagged #BlackLivesMatter and #GeorgeFloyd would appear as if they had been viewed 0 times.
Snap’s news comes at a time when the tide is slowly turning. As of yesterday, Charli D’Amelio’s multi-year reign as the most-followed TikToker comes to an end, with Senegalese-born Khabi Lam assuming the throne with 142.7 million followers compared to D’Amelio’s 142.3 million did. Nevertheless, OKPlayer noted earlier this year that Black creators were noticeably missing from forbes List of highest-paid influencers – D’Amelio sits at #1 with $17.5 million in annual earnings, while his sister Dixie is bringing in $10 million.
Even though black creators gain recognition on these platforms, follower numbers don’t always translate directly into money. D’Amelio’s fortune doesn’t just come from posting videos — he has a Hulu reality show, a clothing line with Hollister, several brand deals, and a snap original show His own. The D’Amelio sisters and their parents have also become venture capitalists themselves, investing in Facetune maker Lightrix.
In addition to its 523 accelerator ecosystem, Snap also runs Yellow, a tech incubator that invests $150,000 in creative startups. Snap says 7 out of 9 companies funded in 2021 have at least one BIPOC or female founder, which is unfortunately rare in tech.