TikTok is opening its newly revamped creator fund called 'Creative Program Beta", which is eligible to all creators in the United States. This is designed to generate higher revenue and unlock more opportunities for its creators.
(Photo : PHILIPPE LOPEZ/AFP via Getty Images)
This picture taken on May 29, 2020 French internet influencers Théo Bignonneau @theobignonneau (C) and Sacha Sadok @sacha_sadok (R) creating content on the video platform Tik Tok at the @thefrenchhouseparis, a collab house (also known as content house) in Paris.
TikTok's Creative Program
Previously, the Creative Program of TikTok was launched in February as an invite-only program. Starting today, it is now available for all eligible creators in the United States. According to the company's press release, it features a new design for creators that could generate higher revenue and unlock more opportunities.
As announced in February, this has been revamped and for creators to be eligible in this program, they must have a US-based account, be at least 18 years of aged, have at least 10,000 followers, and have at least 100,000 views in the last 30 days.
TikTok stated that this program is only in its early stages and by launching the beta version now, the company will be able to explore ways how to improve the experience for its creator community and the way how creators are monetized.
Compared to the Creator Fund, this program gives creators much more access to an updated dashboard with more insights into estimated revenue, video performance metrics, and requirements for video eligibility.
Replacing Creator Fund?
As TikTok released the Creative Program beta and might potentially release it to a wider audience, The Verge reported that the Creator Fund still exists. Creator Fund enrollees can switch to this program once it becomes available. However, creators will not be able to revert back to the previous program once enrolled in this newly launched beta.
No confirmations from the company on whether they will replace the Creator Fund with this new program. However, it is possible that once this expands, launches globally, and exits the beta phase, TikTok might script the previous Creator Fund.
The Creative Program becomes the new addition to TikTok's suite of monetization tools. Aside from this and LIVE subscriptions and TikTok pulse, the company provided tips and gifts monetization features in the platform.
TikTok also introduced a new feature last March that has the aim to appease creators. Based on a report from TechCrunch, "Series" allows eligible creators to post content behind a paywall, which enables them to post collections of premium content that viewers can purchase for access.
In one series, it can include up to 80 videos with 20 minutes each. Creators will also be allowed to select their prices based on what they believe best reflects the value of their exclusive content. Unfortunately, this is only available to selected users but it was reported the applications to join opening might come in the next few months.
Related Article: TikTok 'Creativity Program' Features Another Monetization Venture for US Content Creators
