TikTok, the popular short-form video platform, has announced that it will end its Creator Fund, which is worth a total of $2 billion, starting December 16th. The move represents a change in TikTok's approach to rewarding content creators on the platform.
Creator Fund was first introduced in 2020 as a way for content creators to monetize their viral videos.
According to Engadget, TikTok has committed to paying $1 billion over three years to creators whose videos get hundreds of thousands or even millions of views.
To qualify for the scheme, manufacturers had to amass at least 10,000 followers and receive a base minimum of 100,000 views in the past 30 days.
Despite this, many content creators have found that they receive less income from this payment system than expected. Some expressed disappointment with how little they received for their viral content.
(Photo: ROSLAN RAHMAN/AFP via Getty Images) TikTok's logo seen during a media tour at its headquarters in Singapore on September 7, 2023.
Dealing with content creator complaints
According to TIME, a TikTok spokesperson said in response to the cancellation of Creator Funding that the popular social media platform is committed to “creating the best possible experience on TikTok and providing creators with a robust ecosystem of monetization services. We are committed to providing that.” Our efforts and continued efforts to deliver require us to evolve our products and apply resources elsewhere to best support creators and explore new services. ”
The TikTok Creators Fund previously came under fire after a Forbes report revealed that TikTok was storing creator data on servers in China, contrary to its promise to store it in the United States.
Related article: Elon Musk's Neuralink seeks volunteers for pioneering brain implant trial
In response to creators' concerns and complaints about the Creators Fund, TikTok introduced the Creativity Program earlier this year. The plan aims to address some of the concerns video creators initially voiced. Videos to be eligible for the Creativity Program must be at least 60 seconds long and must receive at least 1,000 views while adhering to the platform's civility guidelines.
The TikTok Creativity Program is still being tested, but will be available to all eligible Creator Fund beneficiaries, according to NBC News. Switching to this creativity program will automatically remove content makers from the previous Creator Fund.
Positive reactions from TikTok users
However, as reported by Wired, a recent internal survey conducted by the company found that 50% of TikTok viewers consider videos longer than one minute “stressful” and one-third watch at 2x speed. It is said that there is
While some creators have previously expressed concerns about the initiative, other content makers have responded more optimistically to the creativity program.
Video creators with varying numbers of followers have reported payments that have skyrocketed from a few thousand dollars to nearly $100,000 per month, a significant increase compared to what they received through the previous Creator Fund scheme. is shown.
Related article: Pokémon GO: November's Community Day Classic is here, Mareep feature – What to expect
ⓒ 2024 TECHTIMES.com All rights reserved. Please do not reproduce without permission.
