We know you're excited. You're pretty close to quitting your day job in film and video and devoting 100% of your time to becoming a full-time TikTok content creator. It's almost there. “Fame” is a viral self-tape voiced by a female robot. You're flossing tomorrow and every day, and—wait…you're not?
Now, TikTok needs to rethink that, as it announces new initiatives to help creators succeed on TikTok with enhanced resources and new monetization tools. These new programs are firmly aimed at helping creators earn more money and further boost the TikTok economy.
Let's take a look at these new programs, how they work, and whether they're worth considering to make your content creation dreams come true.
Longer videos = more money
About a year ago, TikTok introduced a new program that allows creators to earn more money on the platform by creating longer videos. The Creator Fund, which started as an invite-only beta program, is now being replaced by a new program called Creator Rewards, which TikTok is promoting as the new primary way for creators to earn money directly through TikTok itself.
The problem is that videos must be at least 1 minute long, and payouts are calculated using a unique compensation formula that focuses on originality, watch time, search value, and viewer engagement.
TikTok reports that since the launch of its beta program, total creator revenue has increased by more than 250% within the past six months, and the number of creators earning more than $50,000 per month has also nearly doubled.
Is it possible to make money on TikTok?
That seems to be the question here, and one that TikTok is trying hard to answer with a certified “yas.” It's no secret that TikTok is chasing (or at least trying to share) YouTube's dominance in the video creator space.
Since 2022, when TikTok started rolling out long videos on the platform, users have spent 50% of their time watching long videos on TikTok, and the number of viewers of long content has increased by nearly 40% in the past six months.
And the longer TikTok stays in the spotlight, the more advertising and revenue metrics are likely to rise as well. As a result, there are moves to (slightly) increase compensation for creators and challenge YouTube's dominance in revenue sharing.
Still, it may be a bit of a stretch that so many filmmakers and video pros are so interested in creating content exclusively for TikTok. However, if you are working with a client who wants to explore this field, or if you want to play around with content creation yourself, TikTok is becoming more and more popular day by day as younger generations are moving towards this type of content consumption. is becoming increasingly viable.
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