Everything You Need To Know About TikTok Creator Fund
The “creator” concept is central to the TikTok experience.
Normal TikTokers are the ones who create the trends, challenges, and viral videos that get millions upon millions of views.
And don’t forget the billions in advertising revenue.
Exactly what is the TikTok Creator Fund?
TikTok has an official fund set up to pay creators for their work called the TikTok Creator Fund.
This fund exists, so the platform claims, to “reward” users for their “incredible TikTok videos and creativity.”
A few quick points:
- The TikTok Creator Fund was established in 2020 with an initial investment of $200 million. TikTok’s current target is to increase the Fund to over $1 billion by the end of the third year.
- A creator’s metrics will determine their compensation and eligibility for the Creator Fund. This involves reaching predetermined levels of attention and participation.
- The original goal of the Fund was to help creators “earn livelihoods” and “spark careers” through their work on TikTok.
- TikTok has been very clear that they want creators of all types (not just beauty/fashion vloggers or cliche “influencers”) to apply to the Fund.
- The importance of “original and authentic” content that relates to the Fund and TikTok’s goal of “inspiring joy and creativity” is also emphasised.
- The goal of the TikTok Creator Fund is to provide a platform for creators to share their work.
TikTok says the Fund’s purpose is to help content makers. By interpreting the underlying meaning, you can identify potential drivers like:
- Making use of the rising fame of influential people
- It’s no secret that influencer marketing on TikTok has blown up in recent years. TikTok has the Creator Fund and the Marketplace to keep creators interested in making money on the platform.
TikTok’s Creator Fund: A How-To Guide
Looking to learn more about TikTok’s Creator Fund or join up as a creator? If you want to know how to use TikTok, it won’t hold your hand. Follow the instructions below.
To qualify for the Fund, one must
Keep in mind the Creator Fund is only for highly popular and actively engaged creators.
In particular, the following requirements must be met by creators in order to be considered for the Fund:
You need at least 100,000 views on your videos in the past 30 days.
Your profile needs to be in good standing, meaning that you’re following the platform’s norms and guidelines.
Everything you put up on your page must be created by you (not cross-posted or otherwise repurposed)
If you’re not 18 years old, you can’t participate.
Put in your Creator Fund application and send it in.
Suppose you do qualify for the Fund
You can only apply for the Creator Fund through the TikTok app. The Creator Fund application is not hosted on the TikTok website.
- After signing into your account, navigate to “Creator Tools” under “Account Settings.” The Creator Fund can be found in the “Creator Next” section.
- To join the TikTok Creator Fund, you must first be accepted into the Creator Next platform.
- The payout process for the TikTok Creator Fund.
The Creator Fund is not a revenue sharing programme, as made clear by TikTok. Their view is that performance is not static but rather depends on a “variety of factors” that are themselves constantly shifting.
Many authors have complained about the lack of clarity and specificity in this. Of course, it should be noted that the Fund is still in its infancy.
According to TikTok, the following aspects affect how much a creator is paid for a given video:
- Sum of all pageviews
- Viewpoint sincerity
- Proportion of readers actively involved in content
- In a nutshell, creators on TikTok are treated as independent contractors and paid a monthly fee based on their total number of views.
Does anyone know how much money the TikTok Creator Fund gives out?
There has been a lot of backlash against the TikTok Creator Fund because of the low rates of pay that creators receive.
It’s not fair to compare branded content to unadulterated viral content. In comparison to other video hosting sites like YouTube, this payment is still a pittance.
TikTok’s Creator Fund: Pros and Cons
So that you can make an informed choice, let’s weigh the benefits and drawbacks.
Someone is paying you! Although the pay might not be great, it’s still better than not getting paid at all for something you’d be doing anyway.
The Creator Fund has no bearing on the quality or popularity of your content. Joining the Fund will not automatically increase or decrease your visibility, as stated by TikTok. The number of likes and comments on #gifted or #ad posts is typically lower. That is to say, there is no need to alter the material in any way.
You are not obligated to sign a contract or sever any other collaborations in order to participate in the fund. This is merely an additional source of income.
The pay isn’t very good. Once again, creators have much more opportunity for financial success through the Marketplace or through independent brand partnerships.
There is a lack of stability in the income. What percentage of creators are depending on the Fund as their sole source of income? Perhaps not, but probably not. TikTok’s compensation formula is rather nebulous, so creators have no idea what they can reasonably expect to make from the platform.
You won’t get more views or followers on TikTok from the Creator Fund.
Are you convinced that the TikTok Creator Fund is the right choice for you?
The risks involved for a TikToker who is curious about the viability of making money off of their videos are low.
Although TikTok’s plans for its Creators’ Fund are still in development, the company has stated its intention to provide financial assistance to content makers. We’ll have to wait and see if the platform evolves to better entice and reward creators as time goes on.