TikTok’s Revamped Creator Fund Boosts Total Creator Revenue by Over 250%

TikTok announced today that its revamped creator fund has increased total creator revenue by over 250% within the last six months. The company says the fund, which launched a year ago and eventually replaced TikTok’s original $1 billion Creator Fund, is exiting beta in the coming weeks. Since rolling out longer videos, TikTok says users are spending 50% of their time watching longer content, while viewership of longer videos has increased nearly 40% over the last six months. When TikTok first launched the revamped fund, it estimated that creators would be able to make more than 20 times what they were previously earning on TikTok. TikTok’s new creator fund seeks to appease creators and encourage them to post their longer videos on TikTok, instead of just YouTube.

TikTok’s Revamped Creator Fund Sees 250% Increase in Revenue

TikTok, the popular video-sharing app, has announced significant growth in its creator revenue thanks to its revamped creator fund. Within the last six months, the fund has seen a whopping 250% increase in total creator earnings. The company has also announced that the fund, which was launched a year ago and replaced their original $1 billion Creator Fund, will soon be exiting its beta phase.

TikTok has also made some other important updates, including renaming their monetization tool, originally known as LIVE Subscription, to simply “Subscription”. This feature will also now be available to non-LIVE creators, expanding their monetization opportunities.

From Creativity Program to Creator Rewards Program

When the revamped creator fund first launched, it was known as the Creativity Program. However, as it prepares to leave the beta phase, it will now be known as the “Creator Rewards Program”. Unlike the previous Creator Fund, this updated program rewards creators for longer content. In fact, creators who make videos longer than one minute will now receive additional earnings. Since the introduction of longer videos, TikTok reports that users are now spending 50% of their time watching longer content, and viewership of longer videos has increased by almost 40% in the last six months.

TikTok has made these changes in response to complaints from creators about low payouts under the previous model. Some creators claimed to have earned only a few dollars for videos that received millions of views. With the launch of the revamped fund, TikTok estimated that creators would now earn over 20 times what they had previously been making on the platform.

Despite looking to compete with YouTube by allowing longer videos, TikTok does not currently offer the same level of payouts as the Google-owned platform. In the last three years, YouTube, which shares advertising revenue with its creators, has paid out a total of $30 billion. In order to compete and encourage creators to share their longer videos on TikTok instead of just YouTube, the company has revamped its creator fund.

Redesigned Subscription Offering

In addition to updating their Creator Fund, TikTok has also introduced a redesigned Subscription offering for non-LIVE creators. This new feature provides creators with a new way to connect with their viewers through exclusive content and perks. Initially, this tool will only be available to creators by invitation, but it will soon be accessible to eligible creators in the coming weeks.

This updated tool allows creators to offer perks to their subscribers for both their videos and LIVEs, not just LIVEs as was previously the case. By subscribing, users will be able to view exclusive videos only available to them. They will also have a subscriber badge displayed next to their name when they comment on videos or during LIVEs. As TikTok continues to roll out this feature, more perks will become available to subscribers.

Upgrades to the Creator Academy

TikTok is also making updates to its Creator Portal education hub, which will now be known as the Creator Academy. This upgraded hub will provide creators with new and updated resources, courses, articles, and insights. Currently in testing, it will soon be available in seven different languages, with more to come in the future.