TikTok Will Finally Pay Creators Like YouTube and Twitch

As the saying goes, better late than never. While TikTok recently celebrated two years of existence, the social network finally announced that it would be continuing. First wave of payouts for top content creatorsThese payments come from a fund that TikTok set up at the end of July 2020.

“Baptized”“TikTok Creator Fund”, This $200 million jackpot “ was created for“We support ambitious creatives seeking career opportunities” Through the app. Details of the payments are not yet known, such as how often they will occur and how much they will cost. However, a spokesperson said that this system will continue.

A billion dollars in three years

Also this fund for creators, billion dollars over the next three years. So far, 19 creators will receive the money, including David Dobrik, Brittany Tomlinson, Cheyenne Jaz Wise, and Ross Smith. Some already have careers on YouTube, but most of the creators on the list aren’t on other platforms that offer monetization opportunities.

To be eligible for this “grant”, content creators must “Be 18 years or older, have an audience of 10,000, have received 10,000 views on their videos in the last 30 days, and have published original content.“For now, these funds are only available to American creators, but TikTok’s European division recently launched a similar operation.

European fund is being prepared

At the beginning of August 2020, TikTok launched a ““European fund for TikTok creators”This fund, which will have a budget of 60 million euros in the first year, is expected to reach 255 million euros in three years.

Registration and acquisition procedures have not yet been communicated, but we suspect they should be similar to those in the United States. As a reminder, TikTok is still subject to restrictions in the US. Microsoft could emerge as a buyer, even if Twitter has also shown interest in merging with TikTok.