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Tuesday, May 30, 2023

TikTok Launches a Revamped Creator Fund Called the ‘Creativity Program’ in Beta

TikTok Launches a Revamped Creator Fund Called the ‘Creativity Program’ in Beta – TikTok has revealed the launch of an improved version of its creator fund, named the “Creativity Program,” which aims to provide creators with increased revenue and expanded opportunities. The program is currently accessible to a limited number of creators by invitation, with eligibility for all creators anticipated to be granted in the near future.

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As the program is still in its initial phase, TikTok chose not to disclose exact details concerning the amount of funds allocated for it or the specific follower or view count requirements for creators to be eligible. Nonetheless, TikTok clarified that the program is open to creators who are at least 18 years old and have an account in good standing.

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According to the company, the new program was created after taking into consideration the input of creators regarding their current earning opportunities on TikTok, including the Creator Fund. Launched in 2020, the Creator Fund provides incentives to creators with successful videos and was pledged $1 billion over a three-year period.

However, some creators have expressed dissatisfaction with its payment structure, claiming that they earned only a few dollars despite their videos receiving millions of views. TikTok has responded to these concerns by introducing the new program, which aims to address the issue. 

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A representative for the company stated that TikTok has adjusted its payment structure in the new program to provide creators with a greater average gross revenue for eligible video views. Nevertheless, there is no information yet regarding the precise payment rates for creators under this new program.

While TikTok hasn’t provided a clear follower count requirement for the new program, a previous article from The Information suggested that the minimum criteria could be 100,000 followers. If this figure is indeed the threshold, it would represent a notable increase from the current Creator Fund, which necessitates a minimum of 10,000 followers for participation.

In order to earn revenue from the new program, creators must generate original videos of high quality that exceed a one-minute duration, which differs from TikTok’s current Creator Fund that doesn’t necessitate a minimum length for payment eligibility. 

Last year, TikTok extended its maximum video length from three to 10 minutes, indicating its interest in incentivizing creators to produce longer videos. This aligns with the platform’s push to broaden its content offerings and compete with YouTube.

The program also provides creators with an improved dashboard, offering more comprehensive data on estimated revenue, video performance metrics, analytics, and video eligibility criteria. The launch of the new Creativity Program is TikTok’s latest attempt to enhance its earning opportunities for creators, particularly as its top rivals have begun to expand their own offerings.

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TikTok’s new program highlights the platform’s emphasis on retaining its creators, as the company strives to develop innovative methods to incentivize and reward them. This new program complements TikTok’s existing monetization tools, such as LIVE subscriptions and TikTok Pulse, while the platform also incorporates other monetization features like tips and gifts.

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