The short video service TikTok has launched the beta version of its revamped creator fund “Creativity Program”. This financial pot is endowed with a billion dollars that will be distributed to creative TikTok posters. The revised “Creator Funds” is intended to ensure higher returns for users and thus make the platform more attractive.
“Creativity Program” initially only by invitation
The Creativity Program Beta is designed to help developers fuel their creativity, generate higher revenue potential, and unlock more exciting opportunities in the real world. We developed the Creativity Program based on our creators' insights and feedback on our creator solutions, including the TikTok Creator Fund. The beta version of the Creativity Program will initially be available by invitation only and then to all eligible U.S. creatives in the coming months.
TikTok Newsroom, translated with ImTranslator
Lower limit 100,000 followers unconfirmed
Since “the program is still in its early stages,” TikTok is not saying whether anything has changed in terms of funding. The company is also silent on how many followers or clicks content creators must have to be eligible for the program. The only thing that is certain is that users must be at least 18 years old and have a good reputation in order to participate. It used to be said that 100,000 followers was the minimum requirement. However, this has not been confirmed.
More money for better content
According to TikTok, the new program was created based on feedback from previous participants. There had previously been complaints that participants in the program only received “a few dollars” for videos with millions of views. To make money with the program, creators must create “high-quality, original videos” that run longer than a minute. With the currently valid Creator Fund, one minute is not a minimum requirement to be eligible for a fee. On the other hand, TikTok expanded the maximum length of videos from three to ten minutes last year.
Better insights for assessing financial possibilities
In order to better assess the financial suitability of the content created, creators in the new program have access to an updated dashboard. The suitability of the videos, the estimated sales as well as metrics and analyzes, so-called insights, about the video performance should be displayed there. It also emphasizes the fact that videos must meet community standards in order to be suitable for monetization.
Return is impossible
However, content creators should now be rewarded for longer posts. TikTok is thus attacking its rival YouTube. Those already enrolled in the Creator Fund can switch to the Creativity Program; and those not enrolled will be able to apply for the new program as soon as it becomes available, it says. Once enrolled in the new program, Creators will no longer be able to return to the Creator Fund, which may be terminated in the near future.
Availability
The beta version of the Creativity Program is currently available in the USA, France and Brazil, but is expected to be rolled out worldwide in the near future.
Source:
TikTok , press release
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