What is The TikTok Creator Fund?
One of the fastest-growing apps in history, TikTok launched internationally in 2017. With more than 1 billion active TikTok users, the social media platform has become a haven for influencers and content creators looking to market their brands and make money.
TikTok’s highest-earning influencer, Charli D’Amelio, earned $17.5 million last year, so it’s no wonder more creators are clamoring for a piece of the TikTok influencer pie. Fortunately, there are multiple ways to make money on TikTok, including joining the TikTok Creator Fund.
What Is The TikTok Creator Fund?
What is the TikTok Creator Fund? The TikTok Creator Fund is a monetary fund for the platform’s creators. TikTok launched the fund in the spring of 2021 to encourage its creators to attract and engage larger audiences. Unlike an ad revenue sharing program, the TikTok Creator Fund financially rewards creators based on the engagement their content receives, such as video views and likes.
Like other TikTok creator tools, it’s another way for content creators to maximize their experience. While the TikTok Creator Fund started with an initial investment of $200 million, the platform has pledged to add more money to the fund and increase that to $1 billion in the next three years.
READ MORE: 19 TikTok Content Ideas for Business
How Does the TikTok Creator Fund Work?
Interested in how the TikTok Creator Fund works? The program is open to Tiktok users whose TikTok videos have been viewed at least 100,000 times over 30 days. When content creators join the TikTok Creator Fund, TikTok pays them based on how their videos perform.
Money is distributed to participants after their content is published, and the amount is based entirely on the video’s organic reach, as opposed to paid ads. Once a creator has accumulated at least $10 in funds, they can withdraw the payment using an online financial service like Zelle or PayPal.
How Much Does the TikTok Creators Fund Pay?
While TikTok doesn’t release an exact formula for calculating its Creator Fund payments, it’s estimated that the TikTok Creator Fund pays between 2 and 4 cents for every 1,000 views a video receives. In other words, a creator might expect to receive around $20 to $40 for reaching a million views. That might not sound like much, but the program is designed to encourage creators to generate more video content, so the balance can accumulate with enough videos and engagement.
Who is Eligible for the TikTok Creator Fund?
Eligible creators can participate in the TikTok Creator Fund, but which TikTok influencers are eligible for the program? Fortunately for aspiring content creators, the TikTok Creator Fund is open to any users who meet a few basic requirements, including:
To be eligible for the TikTok Creator Fund, users must be based in the United States, United Kingdom, France, Germany, Spain or Italy.
2. Good standing with TikTok community guidelines
Only accounts that adhere to TikTok’s community guidelines and terms of service are eligible to participate in the Creator Fund program.
3. Minimum follower count
Accounts need followers to garner engagement. To meet TikTok’s eligibility requirements, users must have a minimum of 10,000 followers.
4. Minimum video views
Only TikTok accounts with at least 100,000 authentic video views in the last 30 days are eligible for the TikTok Creator Fund.
The TikTok Creator Fund is open to users aged 18 and older.
How to Join the TikTok Creator Fund
It’s simple to join the TikTok Creator Fund. Once you meet all of the eligibility requirements, you can apply to join the program when you manage your account. Just follow these basic steps.
Step 1: Get a TikTok Pro Account
Upgrade your account to a TikTok Pro account. Click on “Me,” to access your TikTok profile. From there, tap the three lines in the upper right-hand corner and click manage account. Under “account control,” you’ll see the option to switch to a Pro account.
Step 2: Access Creator Tools
From here the process is simple. Just access the TikTok Creator Tools, and choose the TikTok Creator Fund. You’ll be presented with the TikTok Creator Fund user agreement.
Step 3: Agree to TikTok Creator Fund Agreement
Once you’ve read the terms of conditions of the TikTok Creator Fund user agreement, you’ll need to agree to them, as well as confirm that you’re at least 18 years old.
Step 4: Wait
Unfortunately, your entry into the TikTok Creator Fund won’t be automatic. TikTok will evaluate your application and let you know if accepted into the program. If your application is declined, you can reapply in 30 days.
READ MORE: How to Use TikTok for Business
How Are TikTok Creator Fund Payments Calculated?
So, creators can earn money with the TikTok Creator Fund but exactly how are those payments calculated? According to TikTok, the funds that each creator can earn are based on a combination of factors, such as the number of and authenticity of views, the level of video engagement and alignment with community guidelines. The vague explanation has been a source of controversy among the TikTok influencer community.
Is the TikTok Creator Fund Worth It?
The TikTok Creator Fund can be a worthwhile endeavor for a TikTok influencer, creator or user who wants to invest in a long-term growth strategy for their brand. While most fund payouts are small, the funds are unlimited and creators are motivated to produce more videos and maximize their earnings. With $1 billion allocated to the fund over the next three years, there’s plenty of incentive to have more and more videos published.
Do TikTok Creators Get Paid?
While the vast majority of TikTok users post their videos for free, TikTok creators have the potential to get paid and make money from their videos in a variety of ways. In addition to getting paid directly from the TikTok Creator Fund, TikTok influencers can create sponsored content, take part in the TikTok Creator Marketplace, promote brands and even use the platform to market their own small businesses.
READ MORE: How to get started with TikTok advertising
How Do You Get a TikTok Creator Fund?
Any TikTok user who meets a few basic eligibility requirements can apply to participate in the TikTok Creator Fund. Just upgrade your TikTok account to a Pro account, agree to the terms, and submit your application. Accounts with 10,000 followers and 100,000 video views in the past 30 days will be considered to join the TikTok Creator Fund and start earning money on their video content and user engagement.
This article, “What is The TikTok Creator Fund?” was first published on Small Business Trends