2024-03-06 01:54:07
TikTok creators’ revenues have increased by 250% in the last six months, thanks to the new “TikTok Creator Fund”, the company announced in a press release on Tuesday.
This is the new creator remuneration program which was reinvented a year ago, which replaced a fund of US$1 billion (approximately CAN$1.35 billion), widely criticized by TikTok content creators.
The revamped fund addresses complaints from creators about low payouts under the previous model, with some earning minimal amounts for videos that attract millions of views.
Originally known as the Creativity Program, the revamped program will now be called the “Creator Rewards Program” when it exits beta. Unlike its predecessor, this program rewards creators for longer content, incentivizing videos longer than a minute. TikTok notes a substantial increase in user engagement with longer videos, with viewers spending 50% of their time on the app viewing such content.
Paid subscription program
TikTok also announced Tuesday that creators could now offer paid subscriptions as part of its latest efforts to offer more monetization options to keep top talent on the app.
The company said in its release that its subscription option, formerly known as “Live Subscription,” will be expanded to non-Live creators in the coming weeks.
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