TikTok Announces the Beta Version of Remodeled Creator Fund
TikTok has launched the beta version of its Creativity program, which is essentially an updated creator fund. It is planned to bring in more money and open up more opportunities for content creators. Presently, the Creativity program is open to select creators.
The short-form media company has not given specifics regarding the funding for the program. It has not specified the minimum number of followers or views content creators must have to qualify for the program, and users must first reach the age of 18 and ensure that their accounts are in good standing.
TikTok designed the new scheme based on input from creators on its current income options. It should be remembered that the creator fund, which rewards artists for popular videos, debuted in 2020 with USD 1 billion over a three-year term.
Creators, on the other hand, have voiced their dissatisfaction with the model’s low payouts. Recently, TikTok has realized these difficulties and developed a new initiative.
TikTok has reworked its formula, according to the spokesperson for the platform, so that the new program will offer a higher average gross revenue for qualified video views.
However, it has not been specified how payments would be made to the creators of the content. The requirement of a minimum of 100000 followers can be deduced from a previous report, which provides the information.
Creators will need to create original, high-quality videos that are longer than one minute to start earning with the program. To be eligible for payment, TikTok’s content Creator Fund doesn’t need videos to be longer than one minute
Last year, TikTok is now looking to reward creators for posting longer content, and now expanded its maximum video length from 3 to 10 minutes.