TikTok, however, will start paying directly for its most influential creators.
The app announced that it had introduced a $200 million “Creator Fund” to help “ambitious creators find opportunities to make a living from their cutting-edge content.” In a statement released Thursday, TikTok said the fund was for US-based creators only.
TikTok has encouraged the emergence of primary influencers such as D’Amelio sisters, members of Hype House, etc. But until now, the creators of TikTok had to monetize their own content. Creators can only earn money from their content through partnerships with third-party brands. While YouTube will pay its creators for a relief in advertising revenue.
“Thanks to the TikTok Creators Fund, our creators will be able to generate more revenue that will praise their care and determination to connect creatively with an encouraged audience through their ideas,” TikTok said in his statement. “In a short time, TikTok has become a source of income and opportunity for creators and their families, and we may no longer be encouraged by their success. As our network continues to thrive, we are committed to fostering more tactics for our creators to make a living inspiring joy and creativity.”
To apply for the fund, creators must be at least 18 years old, comply with a subscriber baseline and “consistently publish original content” in accordance with TikTok network regulations. Nominations will open in August.
The Creator Fund turns out to be responding to court cases about the monetization of TikTok stars and is an effort to keep the app competitive to share videos in a busy field.