TikTok Announces Its ‘Creator Fund’

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TikTok is facing an unknown future and the famous app could be potentially blocked by the Trump administration in the U.S. in a few weeks — but it’s already plowing on as if all the systems are running.

Last month, TikTok revealed the launch of a new Creator Fund to help creators who are creating careers on a short-form culture. It was originally planted at $200 million for the first year, rising to $1 billion over three years in the U.S. to touch “hundreds of thousands” of developers, according to ByteDance-owned business.

TikTok Funding Criteria

In order to be able to apply, participants must comply with the following criteria:

  • Be at least 18 years of age
  • Live in the United States
  • Meet the requirement for followers
  • Consistently publish original material that does not break community guidelines

Citizens of the USA may apply for the funding in August.

“Through the TikTok Creator Fund, our creators will be able to realize additional earnings that reflect the time, care, and dedication they put into creatively connecting with an audience that’s inspired by their ideas,” Vanessa Pappas, general manager of TikTok, said in a blog post.

This is also not the first time that TikTok has set up a program for creators; at the end of May, the organization announced a $50 million Creative Education Program for teachers on the app. The reason for creating this fund isn’t necessary. All the creators need to be happy about is the fact that now they get paid for their hard work and time.

Like YouTube, which allows creators of more than 1,000 subscribers and who have collected more than 4,000 hours of watch time in the last 12 months to run advertisements on their platforms and monetize each video, TikTok has worked more like Instagram. Creators can run supported videos on their page, but there is no immediate, ongoing monetization system for creators.

Regardless of why TikTok is now launching the project, the idea is that it needs to pay users directly for their contributions to the app. An app that has developed an incredible amount in the last 18 months. Next month, developers can hope to hear more about the eligibility factors.

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