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TikTok is introducing new ways for creators to monetize their content on the platform. The company today announced the launch of a new “Effect Creator Rewards” fund that will reward creators for effects created through the app's AR development platform, “Effect House.”
This $6 million fund will pay creators based on user engagement with their effects. At the time of publication, the creator will collect her 700 USD for every effect used in 500,000 unique videos within 90 days after publication. After that, the creator will collect an additional $140 for every 100,000 videos published within 90 days. TikTok has not commented on its plans for the fund after the $6 million is gone.
A TikTok spokesperson told TechCrunch that the new fund will be available in the US, France, Germany, Italy, Spain and the UK.
“When we launched the Effect House beta, complete with development tools, guides, and learning resources, our goal was to provide designers, developers, and creators with the tools they need to build dynamic community effects for TikTok's global community. Our goal was to offer everything,” the company wrote in the article. Blog post. “Our investment in Effect Creator Rewards will help accelerate that effort, expand opportunities for Effect Creators, and support and reward their passion and creativity.”
Today's announcement comes two weeks after TikTok opened up its revamped Creator Fund, called the “Creativity Program Beta,” to all eligible creators in the U.S., France, and Brazil. The new program is designed to generate higher revenue and bring more real-world opportunities to creators. To be eligible for this program, creators must be at least 18 years old, have at least 10,000 followers and at least 100,000 views in the past 30 days.
TikTok says the rewards formula for the Creativity Program Beta is designed to provide higher average gross revenue for eligible video views. The company's creator fund was launched in 2020 with a $1 billion contribution over three years, but it has been criticized by creators who are dissatisfied with the low payouts. The new Creativity Program Beta is TikTok's answer to these complaints.
Once a creator enrolls in a new program, they will not be able to return to the Creator Fund. TikTok has not disclosed whether the Creativity Program will completely replace the Creator Fund, but it is likely that TikTok will eliminate the Creator Fund once the Creativity Program is launched more broadly. .
Effect Creator Rewards and Creativity Program are recent additions to TikTok's suite of monetization tools, which also includes LIVE subscriptions and TikTok Pulse. The company also has a monetization feature for tips and gifts. A few months ago, TikTok also introduced a new feature called “Series” that allows eligible creators to post content behind a paywall.
