TikTok Introduces a New $200 Million Fund to Help Top Creators in the United States

As TikTok continues to grow in popularity, being TikTok famous is no joke. Thousands of content creators have entered brand partnerships, representation deals, and sponsorships based on their videos. However, not everyone can earn TikToker celebrity status, which is why TikTok is introducing a multi-million-dollar fund to help top creators.

Called the $200 million Creators Fund, it is meant to support ambitious content creators who are seeking opportunities to foster a livelihood on the TikTok application, a company’s spokesman told media outlets. The recent move marks the first major effort from the company to pay content creators directly from their videos. Previously, users were able to monetize live streams, however, the new program will pay users directly for making videos.

Content creators will receive regular payments over the next year, and the Creators Fund will grow over time. However, TikTok did not confirm it there is a limit to how many users will receive funding, or how often it will make payments, or how much content creators can earn.

According to TikTok, content creators must be 18 or older to apply for the program, consistently post original videos, and the content should consistent with the platform’s community guidelines. Eligible creators must also meet a certain baseline for followers, but the follower count is still unspecified. Content creators in the US will be able to apply in August of this year, and TikTok is looking to expand the program globally.

This is not the first time a fund for content creators has been created by the company, TikTok launched a $50 million Creative Learning Fund back in May of this year for teachers on TikTok’s platform. Unlike Google’s YouTube which requires creators to have more than 1,000 subscribers and over 4,000 hours of watch time during the past 12 months to monetize their videos, TikTok has operated more like the Facebook-owned Instagram app.

Content creators can run sponsored content on their channel, however, there is no direct, ongoing monetization program for them. Now, the platform wants to pay users regularly, and it is a way for TikTok to remain competitive as its talent only becomes more popular. GM of TikTok US, Vanessa Pappas, acknowledged in a blog post that TikTok’s creators are finding mainstream success on as well as off the TikTok app. Some content creators such as Dixie D’Amelio and Charli have even signed deals outside of TikTok.

The recent move also helps the company out in a few ways. By choosing who receives funding, the platform can try to avoid situations that Google’s YouTube has found itself in with problematic, and controversial content creators earning money. The company plans to hire 10,000 individuals in the US as it has been facing criticism in the US, and it is trying to make itself a more American company.

Photo: Bloomberg / Getty

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