TikTok, the popular short-form video platform, has announced that it will be shutting down its original $1 billion Creator Fund and replacing it with its newer Creativity Program. With the discontinuation of the Creator Fund on December 16, TikTok is shifting its focus to providing higher payouts and more opportunities for creators through the Creativity Program.
Key Takeaway
TikTok is discontinuing its Creator Fund and introducing the Creativity Program to better support and reward creators. The new program has specific requirements for video length and offers higher payouts, potentially allowing creators to earn up to 20 times more than before. TikTok remains committed to creating a robust ecosystem of monetization offerings to enhance the TikTok experience for both creators and users.
The Creator Fund – A Controversial History
The Creator Fund, which was launched in 2020, has faced criticism from creators due to its low payouts. Many creators have expressed their frustration, claiming that their videos, which garnered millions of views, only earned them a few dollars. The shortcomings of the Creator Fund have prompted TikTok to introduce an alternative program that aims to address these concerns and provide a more rewarding experience for creators.
The Benefits of the Creativity Program
TikTok’s Creativity Program offers several advantages over the Creator Fund. Unlike its predecessor, the program has a specific requirement for video length, rewarding creators who make videos longer than one minute. To be eligible for the Creativity Program, creators must have at least 10,000 followers, 100,000 views in the last 30 days, and be at least 18 years old.
According to TikTok, eligible creators who produce high-quality, original content longer than one minute have the potential to earn up to 20 times more than what was previously offered by the Creator Fund. This enhanced rewards formula aims to provide a higher average gross revenue for qualified video views.
TikTok’s Commitment to Creators
“Our ultimate goal is to create the best experience possible on TikTok and provide a robust ecosystem of monetization offerings to creators,” said TikTok spokesperson Maria Jung. “Part of our efforts and ongoing commitment to provide requires us to evolve products and apply resources elsewhere to best support creators and explore new offerings.”
TikTok’s Creativity Program is just one of the monetization tools the platform offers to its creators. Alongside the program, TikTok provides features such as LIVE subscriptions, TikTok Pulse, tips and gifts monetization, and the ability for eligible creators to post content behind a paywall through the Series feature.
