TikTok producers can now monetize their work. Today, the firm unveiled a new “Effect Creator Rewards” fund to reward Effect House creators.
Creators will receive $6 million based on user engagement with their effects. Creators will receive USD 700 for each effect utilized in 500,000 unique videos within 90 days of debut. In addition, creators will receive $140 for each next 100,000 videos created within 90 days. TikTok did not comment on its plans for the fund after $6 million.
A TikTok spokeswoman informed TechCrunch that the new fund is available in the US, France, Germany, Italy, Spain, and the UK.
“When we launched the Effect House beta—complete with development tools, guides, and learning resources—our goal was to equip designers, developers, and creators with all they needed to build dynamic Community Effects for TikTok’s global community,” the business noted in a blog post. In addition, our investment in Effect Creator Rewards expands opportunities for effect creators and supports and rewards their enthusiasm and creativity.
Two weeks ago, TikTok launched its redesigned creator fund, the “Creativity Program Beta,” to qualifying US, France, and Brazil creators. The new program aims to increase creator earnings and real-world chances. Creators must be 18 years old, have 10,000 followers, and have 100,000 views in the last 30 days to be eligible for the program.
TikTok claims the Creativity Program Beta rewards formula increases average gross revenue for eligible video views. However, creators have questioned the $1 billion Creator Fund, which debuted in 2020. TikTok’s Creativity Program Beta addresses these problems.
Creators cannot return to the Creator Fund after joining the new program. In addition, after the Creativity Program opens, TikTok may eliminate the Creator Fund.
TikTok’s latest monetization tactics include LIVE subscriptions, TikTok Pulse, Effect Creator Rewards, and the Creativity Program. In addition, the company monetizes tips and gifts. A few months ago, TikTok introduced “Series,” a paywall tool for qualifying creators.
