TikTok is introducing a new way for creators to monetize their content on its platform. The company Announced today that it is launching a new “Effect Creator Rewards” fund that will reward creators for the effects they create through the app’s AR development platform, effects house.
The $6 million fund will offer payouts to creators based on user engagement with their effects. At launch, for every effect used on 500,000 unique videos within 90 days of being published, a creator will be charged $700 USD. For every 100,000 videos posted thereafter within the same 90 days, creators will charge an additional $140. TikTok did not comment on its plans for the fund once the $6 million runs out.
A TikTok spokesperson told TechCrunch that the new fund is available in the United States, France, Germany, Italy, Spain, and the United Kingdom.
“When we launched the beta version of Effect House, complete with developer tools, guides, and learning resources, our goal was to equip designers, developers, and creators with everything they needed to create dynamic community effects for the global TikTok community.” , the company wrote in a blog post. “Our investment in Effect Creator Rewards furthers that commitment, expanding opportunities for effect creators and helping support and reward their passion and creativity.”
Today’s announcement comes two weeks later TikTok opened its renewed fund for creators, called the “Beta Creativity Program,” for all eligible creators in the United States, France, and Brazil. The new program is designed to generate higher income and unlock more real-world opportunities for creators. To be eligible for the program, creators must be at least 18 years of age and have at least 10,000 followers and at least 100,000 views in the last 30 days.
TikTok says that the rewards formula for the Creativity Program beta was formulated to offer a higher average gross income for qualified video views. Fund for company creators released in 2020 with a three-year billion-dollar commitment, but it has been criticized by the creators who have complained about low payments. The new Creativity Program Beta is TikTok’s response to these complaints.
Once enrolled in the new program, creators will not be able to return to the Creator Fund. TikTok did not say whether the Creativity Program will replace the Creator Fund entirely, but it is likely that TikTok will remove the Creator Fund once the Creativity Program launches more widely.
The Effect Creator Rewards and Creativity Program are the latest additions to TikTok’s suite of monetization tools, which includes LIVE subscriptions and TikTok Pulse. The company also has monetization of tips and gifts characteristics. A few months ago, TikTok also introduced a new feature called “Series” which allows eligible creators to post content behind a paywall.
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