TikTok could soon be rewarding your efforts on the app as it seeks to maintain talent on the app with a new $200 million creators fund.
The short video making app, which has grown in popularity while churning out new celebrities is making its first major effort to pay creators directly for their content. Prior to this, creators have been monetizing their live streams with companies off the site but now, the fund can cater to creators who are seeking opportunities to foster a livelihood.
TikTok creators are set to receive regular payments over the coming year, as the fund keeps growing. The company has not given a limit on when creators will stop earning or how much payment they will be given.
To qualify for the earnings, creators must be 18 years and older and should regularly post content that is consistent with TikTok’s community guidelines. A user should have also attracted a huge following, although the number has not been specified. Creators in the United States can start applying for the funding in August with the company looking to expand the payments globally in due time.
“Through the TikTok Creator fund, our creators will be able to realize additional earnings that reflect the time, care and dedication they put into creatively connecting with an audience that’s inspired by their ideas,” Vanessa Pappas, TikTok General Manager, said in a blog post.
In May this year, the company also launched a $50 million Creative Learning Fund for teachers on the platform.
The creator fund will mark a significant milestone for TikTok as creators will now be able to monetize their videos. Currently, only creators running sponsored videos on their channels can make money offline.
Pappas acknowledged that lead creators are finding mainstream success on and off the app. She noted that some top personalities have found brand partnerships, sponsorship deals and representation deals with some of the biggest talent agencies. In Kenya, creators like Azziad Nasenya continue to enjoy runaway success following their stints on the app.
TikTok is looking to keep and maintain the talent on the app for as long as possible.