Starting in 2020, TikTok creators have been able to monetize their content through the Creator Fund, providing a revenue stream for videos that get a lot of views. But for the first time, the short video app will offer a path to financial rewards for another important creative force in TikTok culture: effects creators.
Today (May 16), TikTok announced Effect Creator Rewards, a $6 million fund to “celebrate and reward effect creators on TikTok.” To qualify, creators must create effects through Effect House, her TikTok's in-house augmented reality platform. According to TikTok's announcement, the fund is only available to creators based in the same countries as the Creator Fund: the U.S., U.K., France, Germany, and Spain. This fund rewards creators based on community engagement with their impact.
Effects are an important part of TikTok. From the risky “Bold Glamor” filter to the tiny face bee effect that has spawned hundreds and thousands of users sharing their unstoppable vibes, the best effects are as trending as they are viral sounds and can generate discourse.
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“For every effect used on 500,000 unique videos within 90 days of publication, creators will collect $700. For every 100,000 videos published within the same 90 days, creators will receive an additional 140,” TikTok said in a statement. .
To apply for this fund, creators must be at least 18 years old and have published at least 500,000 TikTok videos using the effect.
In its press release, TikTok also announced the Creativity Program Beta, an improved version of Creator Fund. TikTok's press release states, “The Beta version of the Creativity Program offers a new formula that delivers higher average gross revenue for qualifying video views, giving creators the potential to earn higher rewards. “it is written like this. “Additionally, the updated dashboard provides more insights, including estimated compensation, video performance metrics and analytics, and details about video eligibility.” According to Tubefilter, as of January, creators I only make about $0.02 and $0.04 per 1,000 plays from the fund. Vice and Wired also reported on how little income the average creator receives from Creator Funds, so the change in the formula is welcome.
To be eligible for the Creativity Program Beta, creators must be based in the UK, France, or the US and have at least 10,000 followers and 100,000 views in the past 30 days. In addition, creators must submit “high-quality original content of 1 minute or more.”
TikTok launched a $200 million Creator Fund in 2020 and has since added ways for creators to monetize their content outside of brand sponsorships. Most recently, the platform introduced “Series”, a way for eligible creators to post “collections” of up to 80 videos behind a paywall. But Effect House Rewards is your first investment in an effects creator.
Posting a video using the latest viral effects could end up putting money in the hands of its creator.
