TikTok will close a $1 billion fund to support content creators
Chinese short-video-making app TikTok has shut down its $1 billion creator fund from December 16.
TikTok’s original fund was launched in 2023 with a three-year commitment. Creators who are part of the fund will be able to roll over to the Creativity Programme, the report mentioned.
However, influencers and other content creators cribbed about low payouts, “making it impossible to earn a living through the creator fund alone”.
Creators in the US, UK, Germany, and France will no longer be able to monetize their work through the original fund, a TikTok spokesperson told The Verge. The TikTok creators’ community in Italy and Spain aren’t affected by the development.
In May, the Chinese short-form video platform opened its revamped creator fund, called the “Creativity Programme Beta“, to all eligible creators in the US.
Creators required at least 10,000 followers and 1,00,000 views in the last 30 days to join the programme.
The company initially began testing the new program with select creators in February. According to the company, the new program was designed to generate higher revenue and unlock more real-world opportunities for creators.
“Designed to help creators foster their creativity, generate higher revenue potential, and unlock more exciting, real-world opportunities, the Creativity Program Beta is the latest addition to our range of monetization tools that support creators of all levels in being rewarded,” TikTok had said.
To begin earning, creators must create and publish high-quality, original content longer than one minute, the company said.
[With Inputs from IANS]
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