Taking on TikTok, Popular photo-messaging platform Snapchat on Monday officially released Spotlight where Snapchatters will also have the opportunity to earn like they do on the Chinese short-video making app. ALSO READ | Snapchat to shut down its digital payment service 'Snapcash'

To drive the users, the company will pay $1 million to most popular creators and their viral posts on the app everyday through the end of 2020.

Spotlight is available starting in the US, Canada, Australia, New Zealand, the UK, Ireland, Norway, Sweden, Denmark, Germany, and France, with more countries coming soon.

The videos can be up to 60 seconds long and cannot be watermarked.

"Spotlight is designed to reward creativity in a fair and fun way, and we're distributing over $1 million USD every day to Snapchatters. Snapchatters must be 16 or older, and where applicable, obtain parental consent to earn," the company said.

Earnings are determined by a proprietary formula which rewards Snapchatters primarily based on the total number of unique video views a Snap gets in a given day (calculated using Pacific Time) as compared to the performance of other Snaps that day.

"We actively monitor for fraud to ensure that we only account for authentic engagement with Snaps. Our formula may be adjusted from time to time," the company said.

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"To help surface new types of content Snapchatters may be interested in, and mitigate against echo chambers, we've built diversity directly into the Spotlight experience," it added.

To appear on Spotlight, all Snaps must adhere to the Community Guidelines, which prohibit the spread of false information (including conspiracy theories), misleading content, hate speech, explicit or profane content, bullying, harassment, violence, and more.