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TikTok Introduces $200M Creator Fund
The TikTok Creator Fund initiative would support creators who are seeking opportunities to foster a livelihood through their creative content.
By
Apac CIOOutlook | Wednesday, July 29, 2020
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The TikTok Creator Fund initiative would support creators who are seeking opportunities to foster a livelihood through their creative content. The fund will be distributed over the coming year and is expected to grow over time.
FREMONT, CA: TikTok, the Chinese video-sharing social networking service, launched a $200M creator fund.
The TikTok Creator Fund initiative would support creators who are seeking opportunities to foster a livelihood through their creative content. The fund will be distributed over the coming year and is expected to grow over time.
To be eligible, users must be 18 years or older, meet a baseline for followers, and post original content maintaining the company's Community Guidelines.
The TikTok Creator Fund will open to applications from US creators in August.
The addition of the fund builds upon the company's ongoing commitment to help creators through monetary opportunities including:
• a $50M Creative Learning Fund, which introduces rising teachers to the platform – and has benefitted more than 1,000 US creators who've been affected by the global pandemic.
• TikTok LIVE streams help hundreds of thousands of US creators over the age of 18 earn by hosting live programs for their audience.
• The TikTok Creator Marketplace, which helps brands explore and partner with innovative creators to collaborate on paid campaigns that attract new customers and drive awareness.
The new US fund will "help support ambitious creators who are seeking opportunities to foster a livelihood through their innovative content," remarked Vanessa Pappas, general manager of TikTok US.
Until now, TikTok has been utilizing the model of Facebook-owned Instagram, which allows creators to post sponsored videos but without direct remuneration from the platform. The move could help boost interest in TikTok, which has seen its user base grow to an estimated one billion.
Pappas said, "our creators will be able to realize additional earnings that help reward the care and dedication they put into creatively connecting with an audience that's inspired by their ideas."
