TikTok launches a revamped maker fund called the ‘Creativity Program’ in beta • AapkaDost

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TikTok announced today that it is launching the beta version of a revamped creator fund called the “Creativity Program.” The company says the program is designed to generate higher revenue and unlock more opportunities for creators. The program is available today to select creators on an invite-only basis, and soon to all eligible creators.

Since the program is still in its early stages, TikTok declined to reveal details about the amount of money it has earmarked for the program. The company also didn’t say how many followers or views creators would need to be eligible for the program. However, TikTok noted that users must be at least 18 years old and have an account in good standing to be eligible for the program.

The company says it developed the new program based on feedback from creators about current earning opportunities, including the Creator Fund. The fund, which rewards creators for popular videos, was launched in 2020 with a commitment of $1 billion over three years. The model has been criticized by creators who have complained about low payouts, with some saying they made a few bucks for videos that garnered millions of views.

TikTok is now acknowledging these concerns with the launch of the new program. A company spokesperson told AapkaDost that TikTok has reworked its formula to offer a higher average gross revenue for qualified video views with the new program, but did not provide details about what payments might look like for creators.

While TikTok didn’t say how many followers creators need to be eligible to participate in the new program, a previous report from The Information indicated that the minimum requirement is 100,000 followers. If these are the actual criteria, it represents a significant jump from the 10,000 follower requirement under the current Creator Fund.

To monetize the program, creators must create high-quality original videos that are longer than a minute. For context, TikTok’s current Creator Fund doesn’t require videos to be longer than a minute to be eligible for payment. Last year, TikTok expanded the maximum video length from three minutes to ten minutes and now wants to reward creators for posting longer content. TikTok’s focus on longer content isn’t surprising as the company has crept further and further into YouTube’s territory.

The program gives creators access to an updated dashboard with more insight into estimated earnings, statistics and analysis of video performance and eligibility requirements for videos.

Creators who are already enrolled in the Creator Fund can transfer to the Creativity Program, and those who are not enrolled can sign up for the new program as soon as it becomes available. Once enrolled in the new program, creators cannot return to the Creator Fund. TikTok declined to say whether the Creativity Program will replace the Creator Fund altogether, but it’s possible that once the Creativity Program launches widely and exits beta, TikTok will scrap the Creator Fund.

The US launch of the new program comes as TikTok has been testing it in France and Brazil for a few months. TikTok plans to launch the program in more regions soon.

“Designed to help creators fuel their creativity, generate higher revenue potential and unlock more exciting, real-world opportunities, the Creativity Program Beta is the latest addition to our suite of monetization tools that support creators of all skill levels to be rewarded,” the company said. said in a blog post.

The new program expands TikTok’s current earning opportunities for creators as its top competitors expand their offerings as well. This month, YouTube started sharing ad revenue with Shorts creators. Before that, no short video platform understood exactly how to share ad revenue. The change gives Shorts a notable competitive edge because if creators can make more money through YouTube Shorts than TikTok, they’ll be incentivized to create original content for the YouTube platform.

However, TikTok’s new program shows that it’s focused on preserving its creator talent, as the company says it’s committed to finding new ways for creators to be rewarded.

In addition to the renewed maker fund, TikTok is working on other ways to appease makers. The Information reported last week that TikTok is developing a paywall video feature that will allow creators to charge users $1, or other amount of their choice, to access a video. The idea of ​​exclusive content for paying users is not a new concept, as Instagram allows creators to share subscriber-only content. If this feature is released, TikTok can better reward the creators, who are the driving force of the app, as their viral videos have been vital to the app’s growth and popularity.

The new creativity program is the latest addition to TikTok’s suite of monetization tools, including LIVE subscriptions and TikTok Pulse. The company also has tips and gifts monetization features.

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