TikTok is launching the TikTok Creator Fund to support selected content creators. To get a reward, creators and their content should meet some requirements.
TikTok, the video-sharing app, has announced a $200 million fund for its United States content creators. The fund that is known as the “TikTok Creator Fund” aims to enable the creators to earn revenue for their content.
It was revealed by the TikTok U.S. General Manager Vanessa Pappas in a blog post.
There are requirements for creators who want to qualify. The first of these requirements is age. Content creators must be 18 years and older. There is also an undisclosed minimum required number of followers.
The content must also meet community guidelines. It places the bar for the kinds of content that could receive earnings. Applications will be open next month. Successfully accepted creators will receive earnings over the next twelve months. It is one of the first few examples of content monetization of the popular video sharing site.
India Used to Be TikTok Largest Market
Before that, India was TikTok largest market. Sources say that the U.S. President Donald Trump has also called for a TikTok ban. It was mostly because of the restriction of the app’s access to Hong Kong residents.
In the midst of this, both countries have closed consulates. As the situation escalates, this may lead to business disruptions on both sides. TikTok has made moves to assuage frayed nerves. The introduction of a human resource strength of 10,000 people is one of several actions. There are also rumors of U.S. investors’ interest in a majority stake acquisition.
It could stifle all the negative press and views that the app is currently facing. More people will start adopting as the investors will do all they can to keep the app’s popularity rising. There will also be the introduction of a stable monetization model. Investors want to profit. It may lead to creators losing some of the perks they currently enjoy.
Investors and ByteDance (owner of TikTok) management may also clash from time to time. It could arise from cultural differences.
On the other hand, the accusations of stolen user data will have to be resolved.
Serious Accusations Concerning User Data
ByteDance has been accused of providing the Chinese government with users’ data. However, ByteDance has denied it. The company has gone to great lengths to deny this. ByteDance has sought to show people that it has no intimate relationship with the Chinese government.
U.S. lawmakers voted to ban Federal employees from using TikTok on government devices. TikTok is a registered Cayman Islands entity. It appointed Kevin Mayer as its CEO.
The platform has other content monetization programs. There is a $50 million Creator Learning Fund to help teachers earn while teaching. Already, about 1,000 U.S. teachers are involved with this program. There is also a Creator marketplace that links content creators with brands for sponsorship.
As it stands, TikTok is fast becoming on its way to becoming a big player in the video market.
Time will tell if it will survive the many challenges that it faces.