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TikTok has introduced that it’s shutting down its authentic $1 billion Creator Fund and shifting the main focus to its newer Creativity Program.
From December 16, the Creator Fund will probably be discontinued in america, United Kingdom, France and Germany.
Creators who’re at the moment enrolled within the Creator Fund can change to the Creativity Program.
The Creator Fund, which launched in 2020, has lengthy been criticized by creators who’ve complained about low payouts, with some saying they earned a couple of {dollars} for movies that acquired tens of millions of views.
In February, TikTok launched the Creativity Program and stated the fund would end in larger payouts for widespread creators. TikTok has stated the rewards formulation for the Creativity Program has been formulated to supply the next common gross income for certified video views. In contrast to the Creator Fund, which didn’t have a particular requirement on video size, the Creativity Program rewards creators who make movies longer than one minute.
To be eligible for the Creativity Program, creators should be at the very least 18 years of age and have at the very least 10,000 followers and at the very least 100,000 views within the final 30 days. Eligible creators who publish high-quality, authentic content material longer than one minute have the potential to earn as much as 20 occasions the quantity beforehand provided by the Creator Fund, in line with TikTok.
“Our final objective is to create the very best expertise attainable on TikTok and supply a sturdy ecosystem of monetization choices to creators,” TikTok spokesperson Maria Jung stated in an e-mail to TechCrunch. “A part of our efforts and ongoing dedication to supply requires us to evolve merchandise and apply assets elsewhere to greatest help creators and discover new choices. We developed the Creativity Program primarily based on the learnings and suggestions from the Creator Fund, and we’ll proceed listening and studying from our neighborhood as we discover new options and improve current ones to additional enrich the TikTok expertise.”
The Creativity Program is a part of TikTok’s suite of monetization instruments, which incorporates LIVE subscriptions and TikTok Pulse. The corporate additionally has ideas and presents monetization options, together with a Sequence characteristic that permits eligible creators to publish content material behind a paywall.
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