TikTok’s $1 Billion Creator Fund to Close on December 16Program
TikTok’s $1 Billion Creator Fund to Close on December 16, Replaced with New Rewards Program
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TikTok’s $1 Billion Creator Fund to Close on December 16, Replaced with New Rewards Program
November 7th, according to The Verge, TikTok has informed its platform users today that it will close its original Creator Fund on December 16, 2023.
This fund was a US$1 billion creative reward program, paid to creators in the United States, the United Kingdom, France, and Germany who posted content on the platform.
TikTok spokesperson Maria Jung stated that creators in the United States, the United Kingdom, Germany, and France will no longer be able to monetize their content through the fund. TikTok users in Italy and Spain will not be affected by this change.
According to IT Home, the Creator Fund was initially launched in 2020, with TikTok promising to pay $1 billion to short video creators within three years.
Reports have indicated that content creators noticed very low returns from the fund, with sometimes just a few dollars for millions of views, making it challenging for them to make a living solely from the Creator Fund. TikTok has not responded to whether the $1 billion has already been spent.
In February of this year, TikTok introduced a new creative reward program called “the Creativity Program.” Unlike the original fund, this program requires creators to make videos longer than one minute. TikTok stated that earnings would be based on views and other engagement metrics, rather than funds from a publicly disclosed pool. Since the launch of this new program, TikTok has been inviting eligible creators to join.
TikTok spokesperson Maria Jung mentioned that creators can earn 20 times the amount they earned under the original fund. Creators in the United States, the United Kingdom, Germany, and France can also transition to the new rewards program.
