TikTok's new monetization feature gives creators a chance to make money by creating video ads

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TikTok is introducing new ways for creators to earn money on the platform. The company on Tuesday announced the launch of a new monetization feature, TikTok Creative Challenge, that allows creators to post video ads in brand challenges and receive rewards based on the performance of their videos. The TikTok Creative Challenge is currently being tested, as are some brands.

To be eligible for new features, creators must be at least 18 years old, based in the U.S., and have an account with at least 50,000 followers. By registering for a TikTok Creative Challenge, creators will be able to browse the list of challenges and see the reward pool, additional details, and requirements.

“Posts must be high-quality, well-edited, and original content,” TikTok said in a blog post. “Once submitted and approved, creators can check the status of their posts, check their performance, and see their monthly revenue. Rewards are based on the number of views, clicks, and clicks on eligible videos. , the number of conversions, etc. If revisions are required, creators will receive a notification about their submission and can revise or dispute it.

Videos posted by creators will not be displayed on your profile. Once your video is approved, it will appear as an ad in the app's For You feed.

TikTok says creators enrolled in the program will have access to resources such as a dedicated creator community group and mentoring program to connect with other creators.

The idea and premise behind the TikTok Creative Challenge is similar to that of Pearpop, an LA-based startup that fosters collaboration between brands and creators as well as creators. Pearpop allows creators and brands to purchase collaborations with celebrities such as Madonna and creators such as Sommer's Ray. These celebrities and influencers can sell collaboration opportunities. Alternatively, you can run a “challenge” that invites people to post on TikTok or Instagram using a specific prompt or sound for a chance to receive cash rewards determined by engagement milestones.

TikTok's new service follows a similar model, helping creators reduce the time and effort it takes to reach out to brands to win deals.

It's worth noting that this new feature comes after TikTok opened up a revamped Creator Fund, called the Creativity Program Beta, to all eligible creators in the US last month. worth it. TikTok says the new program is designed to generate higher revenue and create more real-world opportunities for creators. To be eligible for this program, a creator must have a US-based account, be at least 18 years old, and have at least 10,000 followers and at least 100,000 views in the past 30 days. .

TikTok Creative Challenge is the latest addition to TikTok's suite of monetization tools, including LIVE Subscriptions, Series, and TikTok Pulse. The company also has a monetization feature for tips and gifts.