TikTok only launched its Creator Fund a few years ago, but has already closed it down in favor of a new monetization scheme that emerged earlier this year. “Starting December 16, 2023, Creator Funds in the US, UK, France, and Germany will be discontinued,” a spokesperson told Engadget in a statement. “All creators currently enrolled in Creator Fund can upgrade to the Creativity Program.”
The creativity program emphasizes longer content and requires a minimum video length of one minute or more. (TikTok currently allows videos up to 30 minutes long.) The company says it wants to use the new system to create the “best possible experience” on the platform, but longer videos will He said it would also lead to sales promotion. The company says the main benefit for streamers is that it pays out up to 20 times the amount offered by the Creator Fund.
TikTok says, “We developed the Creativity Program based on learnings and feedback from the Creator Fund. We will continue to listen and learn from our community, explore new features, and enhance existing features to further enrich the TikTok experience.” I will continue to do so.” At least for now, Creator Funds will continue to be available to users in Spain and Italy.
The Creator Fund was announced in 2020 with an initial commitment of $200 million to be paid to top streamers. Shortly after, the company announced it would provide more than $2 billion in funding over the next three years to support hundreds of thousands of creators.
However, it got off to a rough start as top users complained that they weren't receiving much money. Last year, streamer Hank Green said he earned about 2.5 cents per 1,000 views on the platform. This is a portion of his income from YouTube and is equivalent to about half of the income he earned from TikTok before the foundation was established.
We designed our creativity program based on: [creator] We use feedback to encourage creators to create high-quality, original content, generate higher earning potential, and open the door to more real-world opportunities. The program offers higher cash incentives, giving creators the potential to earn up to 20x the amount Creator Fund previously offered.
What is the TikTok Creativity Program?
In contrast, the Creativity Program launched in February this year as an invite-only system before opening up to all eligible creators. Although still in beta, creators must be at least 18 years old, have at least 10,000 followers, have at least 100,000 video views in the past 30 days, and have a US-based account (or one account). Any fund user can participate. (for other eligible countries). Switching to the Creative program will automatically remove you from Creator Fund.
According to a report, some creators are taking advantage of creativity programs. insider. According to one creator, monthly compensation for streamers with subscribers ranging from 500,000 to millions of subscribers has ranged from a few thousand dollars to nearly $100,000, compared to “a full $180” compared to before. It is said that it has become.
Streamers may prefer longer formats and additional revenue, but users may need to adjust. A recent internal TikTok survey found that nearly 50% of users said his videos longer than a minute were “stressful,” and one-third of users online said his videos were 2x faster. He says he's watching it. wired Report from the beginning of this year.
