TikTok announced the launch of its revamped creator fund called “Creativity Program” designed to help Tik Tok creators earn better revenue and get more opportunities. The program has already been rolled out to a few selected influencers on an invite-only basis. Availability for all other eligible creators will be coming soon.
Since the program is still in the early stages, Tiktok declined to reveal more information about it, especially how much money creators can expect to make from it. The eligibility criteria are also quite bleak— there’s no mention of the number of followers or total views that an account should have in order to be a part of the Creativity Program.
In a report published on The Information two weeks ago, Tiktok mentioned that they might be raising the bar to at least 100000 followers for their new Creativity Program, which is a massive jump from the existing 10000 follower criteria. Since there hasn’t been any official announcement yet, these claims cannot be confirmed.
The Need for a New Program
According to TikTok officials, this new program has been designed using feedback from existing creators on their current monetization opportunities, including the current Creator Fund. This version of the Creator Fund was launched in 2020 with a $1 billion commitment for the next three years.
However, the Creator Fund soon received widespread criticism from influencers unhappy with low payouts and earning opportunities. Some even complained that even for videos that got millions of views, they earned only a few dollars.
Taking all these concerns into account, Tiktok has launched this revamped version of its Creator Fund. Since they are yet to reveal the pay scale for each unique view, it’s hard to figure out the overall growth of the creators.
According to reports, the Creativity Program uses a renewed algorithm designed to offer higher average gross revenue for videos that meet their criteria.
While the existing program has no minimum threshold for the video duration, the revamped program requires the creator to make videos longer than a minute. After raising the video limit length from 3 minutes to 10 minutes, Tiktok has been focusing more and more on generating longer videos and hence rewarding the creators that do so.
We don’t know yet if the Creativity Program will completely replace Creator Fund, but it might be the case once the new version is widely available.
TikTok is also working on other monetization features to support the loyal creators on its platform. Reports suggest that it’s working on a paywalled video feature that will allow creators to charge a subscription fee for exclusive content.
These improved monetization options are sure to attract more users. With more money flowing in, creators will have to be on their toes to attract and retain audiences.
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Krishi Chowdhary
Journalist
