News

TikTok Offers Creators Better Monetization Opportunities with Revamped Creator Fund

The beta version of a revamped TikTok creators fund called the “Creativity Program” provides higher revenue opportunities for qualified video views

TikTok Offers Creators Better Monetization Opportunities with Revamped Creator Fund

Image: unsplash

Popular short-form video hosting service TikTok on Feb.20 announced it was launching the beta version of a revamped creator fund called the “Creativity Program” designed to generate higher revenue and unlock more opportunities for creators.

The program is already available to selected creators on an invite-only basis. Wider availability to all eligible creators is expected soon.

The company has not yet revealed specifics about the amount of the program funding. The company also didn’t disclose eligibility criteria such as how many followers or views creators need to reach in order to enrol. Reportedly, the minimal follower threshold would significantly surge. However, TikTok did note that eligible users need to be at least 18 years old and have an account in good standing.

The previous monetization model has been repeatedly criticized by creators who might have had low payouts for videos that got millions of views. Therefore, the company says it developed the new program based on feedback from creators.

Namely, it estimated current earning opportunities, including Creator Fund and reworked the earnings formula to offer a higher average gross revenue for qualified video views with the new program. The new Creativity Program also gives creators access to an updated dashboard with more insights into estimated revenue, video performance metrics, analytics and video eligibility requirements.

To start earning with the program, creators will need to create high-quality, original videos that are longer than one minute, opposite to the requirements of the current version of the Creator Fund.

Last year, TikTok expanded its maximum video length from three minutes to 10 minutes. The social media platform is currently focusing on rewarding creators for posting longer content. This way, the company aims to increase its competitiveness in the video content market. It was previously estimated that TikTok would eclipse Facebook in influencer marketing spend in 2022, and YouTube by 2024.

Nina Bobro

1496 Posts 0 Comments

https://payspacemagazine.com/

Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.