TikTok Starts $200 Million Fund to Pay Users for Content
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TikTok is introducing a $200 million “creator fund” which will be distributed to US users over the coming year. TikTok is taking the first steps toward paying users for content with the launch of a $200 million “creator fund.” The fund will be distributed to US users over the coming year, during which time it is expected to grow to be worth more than $200 million.
“To further support our creators, we’re launching the TikTok Creator Fund to encourage those who dream of using their voices and creativity to spark inspirational careers. The US fund will start with $200 million to help support ambitious creators who are seeking opportunities to foster a livelihood through their innovative content.”
The TikTok Creator Fund will begin taking applications starting in August.
TikTok Creator Fund Eligibility Criteria
In order to be eligible to apply, users must meet these criteria:
- Be at least 18 years old
- Live in the United States
- Meet a baseline for followers
- Consistently post original content that doesn’t violate community guidelines
The eligibility criteria are relatively vague at this point. Hopefully, there’s more clarity when the applications open next month. For instance, there’s not even a hint at what’s considered a “baseline” for followers.
There’s also no indication of what posting “consistently” means, or how original the content needs to be. Much of the viral content on TikTok contains licensed music or copyrighted voice clips.
Would that content not be considered original even though it represents most of what gets published to TikTok?
To that end, the most important question yet to be answered is: what kind of content is TikTok looking to fund?
Other than meeting eligibility criteria, it’s not known how TikTok will decide to fund one creator over another.
From the sounds of it, TikTok is looking to fund ambitious creators who put time and effort into fostering an engaged community with regular uploads.
“Through the TikTok Creator Fund, our creators will be able to realize additional earnings that help reward the care and dedication they put into creatively connecting with an audience that’s inspired by their ideas.”
Again, it can only be presumed that more information will be made available when applications open.
Additional Efforts to Fund Creators
TikTok highlights additional efforts it has made to support users through monetary opportunities, such as:
- Creative Learning Fund: A $50 million fund that introduces emerging teachers to the platform.
- TikTok Live Streams: This creates earnings opportunities for hundreds of thousands of US creators who host live streams and receive money from their audience.
- TikTok Creator Marketplace: Helps brands discover and partner with innovative creators to collaborate on paid campaigns.
“In a relatively short time, TikTok has grown to become a source of income and opportunity for creators and their families – and we couldn’t be more encouraged by their success.”
It can be argued that TikTok is not doing as much to fund US creators as it could be.
Although it’s the fastest growing social network in the US, TikTok has been comparatively slow to introduce ways for creators to monetize their content.
The Creator Fund may be a step in the right direction. Time will tell how many users get accepted and what the payouts are like.