TikTok creator revenue has risen 250% over the past six months, thanks to a new “TikTok Creator Fund,” the company announced in a press release on Tuesday.
This is a new creator reward program that was reinvented a year ago, which replaced a $1 billion USD (about $1.35 billion CAD) fund, which was widely criticized by TikTok creators.
The revolving fund addresses creators' complaints about low payouts under the previous model, with some earning meager sums for videos that attract millions of views.
Originally known as the Creativity Program, the revamped program will now be called the Creator Rewards Program when it exits beta. Unlike its predecessor, this program rewards creators for longer content, incentivizing videos longer than a minute. TikTok is seeing a significant increase in user engagement with long-form videos, with viewers spending 50% of their time on the app watching this content.
Paid subscription program
TikTok also announced on Tuesday that creators can now offer paid subscriptions as part of its latest effort to offer more monetization options to keep top talent on the app.
The company said in its statement that its subscription option, previously known as “Live Subscription,” will be expanded to include non-Live content creators in the coming weeks.
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