TikTok establishes $200 million US-based fund to support content creators
TikTokis creating a fund of $200 million to support the app's popular US-based video creators.
- "In a relatively short time, TikTok has grown to become a source of income and opportunity for creators and their families – and we couldn't be more encouraged by their success," TikTok General Manager Vanessa Pappas said in a press release.
- While popular figures on the app have certainly found many ways to make money from their
social mediasuccess, this will offer those accounts the chance to earn money directly from their posts.
Short-form video app TikTok has established a $200 million fund to monetarily support US-based
Starting in August, TikTokers who are over 18 years old, meet an as yet unspecific follower count minimum, and post original content in accordance with the platform's community guidelines can apply to earn money from the TikTok Creator Fund.
"In a relatively short time, TikTok has grown to become a source of income and opportunity for creators and their families – and we couldn't be more encouraged by their success," TikTok General Manager Vanessa Pappas said in a press release on Thursday. "As our community continues to flourish, we're committed to fostering even more ways for our creators to earn livelihoods by inspiring joy and creativity."
The fund will join the platform's TikTok LIVE feature, which allows users with more than 1,000 followers to livestream and earn virtual coins that can be traded for real cash.
Most popular TikTok users have found ways to make money from their millions of followers without help from the app. Top influencers such as Charli and Dixie D'Amelio, Addison Rae Easterling, Josh Richards, and other TikTok celebrities have used a mix of sponsored posts, commercials, brand partnerships, and web series to bring in an income using their TikTok fame. But with the new fund, users will be able to earn a living directly from the company behind their notoriety.
Details of how the platform is funding the initiative, whether it's via advertising revenue (like YouTube's structure) or through other sources, have not been released. It's also unclear how funds will be allocated.
TikTok, which is owned by the Chinese company
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