TikTok launched the Creator Fund in 2020 to help users earn money from their content. The fund started with $200 million, but over the past three years it has grown rapidly and has paid out more than $2 billion to creators.
The platform announced it would close its Creator Fund in favor of a new system called the Creativity Program. TikTok shared the news in a blog post outlining some of the rules and regulations for the creativity program.
In the US, UK, France and Germany, the program will automatically replace the fund from December 16th. Eligible creators can “upgrade” to the beta version of the program, but once enrolled they cannot return to the fund.
Payments for this program are expected to be higher per view compared to funds, but the bar for participation has also been raised. The Fund required creators to have a minimum of 10,000 followers, and this standard continues into the program.
Creators must also have at least 100,000 video views in the past 30 days and must post videos that are at least 1 minute long. Earnings are calculated per 1,000 views, taking into account viewing engagement and the “authenticity” of the viewing account.
The Creativity Program is launching with a $200 million initial funding commitment and is invite-only during its beta phase.
In other tech news, OpenAI says ChatGPT records 100 million weekly active users.
