Chinese video-sharing app, TikTok has declared to begin a $200 Million “Creator Fund” on Thursday. This will be the biggest and most direct means of TikTok to contribute with their users.The main aim of this huge contribution will be to to aid some of the most aspiring and enthusiastic creators who are anxiously looking for an open window to make some livelihood through their innovative content.
The company also revealed in a statement that the fund is only for the creators of the U.S, Also that, only the users aged 18 or more will be eligible for the funds and the selected users will get funded throughout the year. Creators must have a specific number of followers, and must post their own unique content regularly according to the TikTok’s Community Guidelines.The Applications will be available soon in August.
In recent years, TikTok has become a platform where people can showcase their talent to the world in such short time. The social app has gave birth so many rising star actors, dancers, singers and influencers like the D’Amelio (16 years old user with most followers), Charli and so many others.
But unfortunately, till this date, TikTok had no way of means to pay their creators, the TikTok users and content creators could only earn money if they could pull off a partnership with a third-party brand or they had to monetize their content for themselves.While on the other hand, another video sharing platform, YouTube pays to their content creators directly through ad revenues. This fund seems to be the first step taken by the authorities regarding this issue.
The spokesperson of TikTok also said,
“With our creator fund, creators will get extra earnings from us, which will be a way of giving reward for the extreme handwork and dedication our creators had put into this, through which the audience got inspired by their ideas and creativity.”
Furthermore, TikTok said in their statement. “In such short period of time, TikTok has become so big that it is now the source of income and a huge opportunity to make a living for many talented creators and show off their amazing work. We could not be more cheered by their achievements. As our community continues to grow, we are obligate to give even more funds and opportunities like this to help our creators to earn money for their livelihood.”
Since, the TikTok authorities had received many complaints regarding the monetization, this creator funds obviously seems to be a first step in keeping the social app in demand.