A year ago, TikTok introduced a new way for creators on the platform to make money: creating long-form videos. The invitation-only creativity program, which was in beta at the time, required TikTokers to post clips of him longer than one minute to qualify for monetization, and the company wanted people to use its platform. It showed a change in the way I wanted to do things. It was a departure from the so-called short video style that made TikTok famous in the first place.
TikTok announced today that the program will now be called Creator Rewards and that content creators must create videos longer than one minute to monetize through the program. The previous Creator Fund, which had no video length requirements, was shut down in November.
Creator Rewards calculates payouts based on an “optimized rewards formula” that focuses on originality, watch time, search value, and audience engagement, the company said. Creators complained that payouts from the Original Creators Fund were low, sometimes earning them only a few dollars per million views. A new fund for one-minute videos promises to fix this, and TikTok says the program will increase payments to creators. TikTok says creator income has increased 250% in the past six months, with the number of creators earning $50,000 a month doubling.
As I wrote in January, it's becoming increasingly difficult to tell the difference between TikTok's format and traditional YouTube videos. TikToks can be up to 30 minutes long in some cases. The company also encourages creators to post sideways videos in exchange for the platform to “boost” their content. In other words, TikTok is creating the type of long-form content that was disruptive five years ago. With TikTok encouraging longer content, it feels almost certain that our feeds will move away from the essential Vine-like clips that TikTok was known for.
In other monetization news, TikTok is expanding the number of users with access to premium Twitch-like features for live streaming content. Live subscriptions will also be opened up to non-livestreaming creators, allowing them to charge fans money for “exclusive content and perks.” Live streamers can sell perks like badges, emotes, subscriber-only chat, and more.
The news was announced at TikTok's Creator Summit, which laid out the platform's priorities for content creators and, by extension, what the company wants creators to create. If you start noticing that your favorite creators' videos are getting longer, or you're surprised when they start uploading their content as horizontal clips, follow the money.
