The TikTok launches a revamped creator fund called the Creativity Program in beta
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TikTok today announced that it is launching the beta version of a revamped creator fund called the Creativity Program. The company said the program is designed to generate higher revenue and unlock more opportunities for manufacturers. The program is available to select creators on an invitation-only basis starting today, soon be available to all eligible creators.
Given that the program is still in its early stages, TikTok declined to disclose specifics about the amount of money it has allocated for the program. The company also did not say how many followers or view creators are required to be eligible for the program. TikTok, however, notes that users must be at least 18 years old and have an account in good standing to be eligible for the program.
The company said it developed the new program based on feedback from creators about current revenue opportunities, including the Creator Fund. The fund, which rewards creators for popular videos, was launched in 2020 with a commitment of $1 billion over three years. Its model has been criticized by creators who have complained about underpayments, with some saying they earned a few dollars for videos that received millions of views.
TikTok is now acknowledging these concerns with the launch of the new program. A company spokesperson told TechCrunch that TikTok has reworked its formula to offer a higher average gross revenue for eligible video views with the new program, but didn’t provide specifics on what the payouts might look like for creators.
Although TikTok did not say how many followers creators need to be eligible to participate in the new program, a previous report by The Information indicated that the minimum requirement is 100,000 followers. If this is the actual criterion, it marks a significant jump from the 10,000 follower requirement under the current creator fund.
To start earning through the program, creators must create high-quality, original videos that are longer than one minute. For context, videos don’t have to be longer than one minute to be eligible for payment in TikTok’s current creator fund. Last year, TikTok expanded its maximum video length from three minutes to 10 minutes and is now looking to reward creators for posting longer content. TikTok’s focus on longer content isn’t surprising, given that the company is moving further into YouTube territory.
The program gives creators access to an updated dashboard with estimated revenue, video performance metrics and analytics, and more insight into video qualification requirements.
Creators already enrolled in the Creators Fund can move into the creativity program, and those who are not enrolled can apply to the new program once it becomes available. Once enrolled in the new program, creators cannot return to Creator Fund. TikTok declined to say whether the Creativity Program will replace the Creator Fund entirely, but it’s possible that once the Creativity Program is widely launched and out of the beta phase, TikTok will scrap the Creator Fund.
The launch of the new program in the US comes as TikTok has been testing it in France and Brazil for months. TikTok plans to launch the program in more regions soon.
Designed to help creators enhance their creativity, generate higher revenue potential and unlock more exciting real-world opportunities, the Creativity Program Beta is the latest addition to our range of monetization tools that help reward creators of all levels, the company said in a blog. post.
The new program expands TikTok’s current revenue opportunities for creators, as its biggest competitors are also ramping up their offerings. This month, YouTube started sharing ad revenue with Shorts creators. Previously, no short-form video platform had decided how to share ad revenue. The change gives Shorts a significant leg up on the competition because if creators can make more money through YouTube Shorts than TikTok, they are incentivized to create original content for the YouTube platform.
However, TikTok’s new program shows it’s focused on retaining the talent of its creators, as the company says it’s committed to finding new ways to reward creators.
In addition to revised creator funding, TikTok is working on other ways to appease creators. The Information reported last week that TikTok is developing a paywalled video feature that would allow creators to charge users $1 or any other amount of their choice to access a video. The concept of exclusive content for paying users is not a new concept, as Instagram only allows creators to share content with customers. When released, this feature will allow TikTok to better reward creators, who are the driving force behind the app, as their viral videos are critical to the app’s growth and popularity.
The new Creativity program is the latest addition to TikTok’s suite of monetization tools, which include Live Subscriptions and TikTok Pulse. The company has features to monetize tips and gifts.
