And it seems most creators received’t be unhappy to see it go. The video-sharing platform introduced Monday that the fund — via which TikTok promised to pay creators $1 billion — can be discontinued in December.
“Our final aim is to create the most effective expertise potential on TikTok and supply a sturdy ecosystem of monetization choices to creators,” the corporate mentioned in a press release.
The change will impact creators within the US, UK, France, and Germany.
As a part of the Creator Fund, TikTokers may earn cash based mostly on what number of views their movies obtained. However some content material creators mentioned the app was underpaying for even essentially the most viral movies.
Final yr, prime creators Hank Inexperienced and MrBeast known as out the fund, which launched in 2020, saying it paid simply pennies for each 1,000 views on TikTok.
Victoria Paris, a 24-year-old full-time influencer, beforehand instructed Insider that she earned simply over $40,000 from TikTok’s creator fund in 2021. Paris mentioned she depends on model offers as her principal supply of earnings as a substitute her movies alone.
However the tides started to show when TikTok launched the Creativity Program, which pays creators extra for movies longer than one minute. Paris mentioned she will be able to earn round $10,000 per thirty days from TikTok views as a part of the Creativity Program.
Shawn Owens, 27, mentioned the Creator Fund isn’t set as much as profit micro-influencers like himself. Regardless of having 70,000 followers and loads of viral moments, Owens mentioned he “by no means made any substantial cash from the Creator Fund.” He didn’t present actual figures for the way a lot he’s made out of the fund.
“I received’t miss the Creator Fund,” he instructed Insider. “For my part, it was arrange for already established and well-known creators.”
Creators who’re enrolled in TikTok’s creator fund have the choice to improve to the Creativity Program in the event that they want to monetize their content material, the corporate instructed Insider.
This text was written by Jordan Hart from Enterprise Insider and was legally licensed via the DiveMarketplace by Business Dive. Please direct all licensing inquiries to authorized@industrydive.com.
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