After launching the Creator Fund in September 2020 as the first step towards “a new world of opportunity on TikTok,” the video-sharing app is back with a new rollout aiming to reward some of the platform’s most innovative content creators. Enter Creator Next.
TikTok Creator Next aims to help creators monetise as they grow and develop their communities on the app. “When you join Creator Next, you receive access to tools and features that allow you to turn your creativity and passions into something greater, whether that’s a side hustle or a business,” TikTok wrote when introducing the new feature.
Creator Next consists of a single hub that combines all of the platform’s monetisation tools. In a post on TikTok’s newsroom, the app explained that alongside Creator Next, it’s also widely introducing its tipping feature—which lets users send money directly to their favourite creators. Video Gifts, Tips, and TTCM join LIVE Gifts and the Creator Fund under Creator Next. Let’s have a look at what the new features have to offer.
TikTok Creator Fund, which rewards TikTokers for doing what they do best—creating engaging and innovative TikTok videos. It’s TikTok’s way of celebrating and supporting creators for their dedication, ingenuity, and spirit. How? By paying them depending on their content’s views, impressions and engagement rates. You can learn more about what this feature has to offer here.
The new hub also helps creators collaborate with brands on TikTok more easily through the TikTok Creator Marketplace (TTCM). Through Creator Next, eligible creators with 10,000 followers or more can now sign up to TTCM to collaborate with brands on opportunities that fit their interests and creative style, opening up new ways to monetise their content. Brands and agencies can browse and search TTCM’s marketplace of creators who’ve joined across 24 countries and easily pick their favourite ones.
TikTok awards Diamonds to creators based on the popularity of their LIVE videos. A key metric that the platform uses to assess the popularity of a LIVE video is the number of LIVE Gifts sent to a creator’s content. Creators may then redeem these Diamonds for money and transfer the same to their bank accounts.
Video Gifts is another feature the app has made available through Creator Next, which allows creators to collect Diamonds not only by going LIVE but also by posting videos. This aims to give users a new way to interact and engage with content they love.
TikTok started testing its Tips feature as another way for creators to make money in October 2021, but now the feature is rolling out to all creators who meet TikTok’s eligibility requirements. As is standard for tipping in person. With Tips, creators will receive 100 per cent of the tip value. Payments are additionally processed through Stripe—which allows creators to sign up in seconds and manage their earnings in a simple dashboard.
To be eligible to join TikTok’s Creator Next, creators must be 18 years of age or older, meet minimum follower requirements (which can differ depending on region), have at least 1,000 video views in the last 30 days, have at least three posts in the last 30 days, have an account that is in good standing with Community Guidelines and be based in the US, UK, Germany, France, Italy or Spain. Creators based in Canada and Australia will also have access in the coming months. Business Accounts, however, are ineligible to participate.
On your marks, get set, create!
TikTok’s Creator Fund wants to celebrate TikTok’s best and brightest by giving them the opportunity to earn money through their creative content, starting with $70 million (approximately £54 million) of funds available to thousands of creators across the UK, Germany, Italy, France and Spain. TikTok launched the Creator Fund on Tuesday 1 September as the first step towards “a new world of opportunity on TikTok,” according to the video-sharing app’s statement.
The platform wants to push its users to take their creativity, imagination and ambition to the next level. TikTok is also expecting the fund to rise to a total of $300 million (approximately £231 million) within 3 years and will extend it to further markets across Europe so that even more creators can be given the opportunity.
According to TikTok, creators receive funds based on a variety of factors from their videos, and of course, they should also know that performance on the app is dynamic—it changes naturally and often—so your funds will ebb and flow in the same way. In other words, the more creative your content is, technically, the more engagement you should receive and the more funds you should gain!
Last month, TikTok announced some of the first recipients of the fund, but tens of thousands of creators across Europe will now be eligible to apply. By rewarding innovative and creative content, the app hopes this fund will continue to support its community of creators—and probably bring in more users while it’s at it.
To apply for the Creator Fund, you’ll need to meet some initial criteria. You must be based in the UK, Germany, Italy, France and Spain, be 18 years or older, have at least 10,000 followers, over 10,000 video views in the past 30 days and post original content in line with TikTok’s community guidelines.
No! TikTok says there’s no limit on the number of creators who can join. It wants as many eligible creators as possible to make money doing what they love on the app.
You can apply for it directly through the TikTok app. Access the TikTok Creator Fund in-app through your pro/creator account, confirm you are over 18, then read and agree to the TikTok Creator Fund agreement. Once approved, you should start earning from the performance of your content, which you can view in your accrued funds on your Creator Fund dashboard. So get creating, and don’t forget to read the agreement before you start!
The funds that each creator can earn are worked out by a combination of factors, including the number of views and the authenticity of those views, the level of engagement on the content, as well as making sure content is in line with TikTok’s Community Guidelines and Terms of Service.
Because no two creators or videos are the same, there is absolutely no limit to the different kinds of content TikTok supports with the fund. The Creator Fund total varies daily and is dependent on the number of videos published by content creators that day, which means the daily fund will fluctuate based on the amount of content being published.
Not yet at least! There isn’t a fixed amount of money that TikTok allocates to creators and the same goes for the amount of funds released daily. The video-sharing app has committed to £231 million over the next 3 years to the Creator Fund.