523 by Snap Supports Minority-Owned Content Creators & Companies
Laura McQuarrie — December 15, 2021 — Social Media
References: newsroom.snap & fashionunited.uk
523 by Snap is the first-ever content accelerator program from Snapchat's parent company and it was developed with the intention of supporting and elevating minority-owned content companies and creatives. This program was made with independent content creators and small businesses in mind, namely those who lack access and resources as compared to larger competitors.
Through the Discover channel, Snap will be helping minority-owned content creators and companies build their audiences, businesses and presence. Over the course of six months, 523 will be offering resources to up to 20 candidates, including $10,000 monthly for content development, plus mentorship from the company's media partnerships, community engagement and education teams. Participants will also get the benefit of being able to connect with program sponsors such as Target, Unilever and Nissan.
Through the Discover channel, Snap will be helping minority-owned content creators and companies build their audiences, businesses and presence. Over the course of six months, 523 will be offering resources to up to 20 candidates, including $10,000 monthly for content development, plus mentorship from the company's media partnerships, community engagement and education teams. Participants will also get the benefit of being able to connect with program sponsors such as Target, Unilever and Nissan.
Trend Themes
1. Minority-owned Content Acceleration - The development of content acceleration programs exclusively for content creators and companies from minority groups without equal access to resources is a disruptive innovation opportunity.
2. Diversification of Media Platforms - Providing unique opportunities for minority-owned content creators and companies to increase their audience, businesses and presence on media platforms is a disruptive innovation opportunity.
3. Corporate Sponsorship for Minority-owned Companies - Partnership with corporations to sponsor minority-owned content creators and companies and boost their presence offers a disruptive innovation opportunity.
Industry Implications
1. Media and Entertainment - Accelerator programs specifically for minority-owned content creators and companies have the potential to create a more diverse and inclusive media and entertainment industry.
2. Marketing and Advertising - Corporate sponsorship for minority-owned content creators and companies can create more opportunities for diverse representation in marketing and advertising industries.
3. Technology - Diversification of media platforms that promote the work of minority-owned content creators and companies requires innovative technology and offers a disruptive innovation opportunity.
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