Social Media platform TikTok has made the decision to shut down its Creator fund after receiving backlash from influencers, according to CBS. Instead, it will be launching a new programme set to increase the amount paid out to creators.
TikTok’s Creator fund pays eligible creators monetary rewards for their content on the app. Elements that are taken into consideration include video views, video engagement, as well as ensuring the videos adhere to the community guidelines and terms of service.
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Many influencers have reportedly complained about the Creator fund, saying that they have been underpaid for their contributions on the app. Creators have been saying that they’ve only earned a few dollars a day, despite their videos garnering up to tens of thousands of views.
One of these creators is Hank Green, who uploaded a 24-minute YouTube video last year titled “So…TikTok sucks”. In the video, he gave an in-depth overview of his perspective and experience of being part of the Creator fund. He noted that with the growth of creators on TikTok, many are simply getting less money as it is divided up unlike YouTube which pays its creators based on the views they get.
Following Green’s YouTube video, many other creators have also spoke up to share their opinions and feelings regarding this matter in the comments of said video. There was also reportedly a lack of transparency from the company regarding the Creator fund.
As TikTok kills its Creator Fund, the company is coming up with another programme similar to the Creator fund.
Dubbed the “Creativity Program”, the new system will allow creators to earn up to 20 times more than they did on the Creator Fund, according to TikTok.
To enroll in the programme, users need to be at least 18 years old with a U.S.-based account, have a minimum of 10k followers and have acquired at least 100k video views in the last 30 days.
It will offer higher cash incentives with earnings based on qualified views. Rewards under the Creativity Programme are calculated based on qualified views and RPM (average gross revenue per 1,000 qualified views).
MARKETING-INTERACTIVE has reached out for more information.
The news follows the launch of TikTok Music in Singapore in October this year. TikTok Music is the video-sharing platform’s premium-only social music streaming service.
Prior to the launch, TikTok Music was only available to a closed group of beta testers. Subscribers are now able to listen, download, and share full tracks to their communities through the new service, as well as transition between TikTok and TikTok Music seamlessly.
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