Tiktok set up $200 million fund for creators to encourage original content of American online celebrities

 Tiktok set up $200 million fund for creators to encourage original content of American online celebrities

NetEase technology news July 24th, according to foreign media reports, with the short video platform TikTok (TikTok Overseas Edition) popularity continues to grow, the company is trying to retain talents by the new 200 million dollar creator fund.

A tiktok spokesman confirmed that the fund aims to support ambitious creators who look for livelihood opportunities in their applications. This marks the first time tiktok has paid directly for content submitted to its creators and the companys first major monetization effort.

Before that, creators could monetize the live stream, but the new project would pay directly to the person who made the video. Creators will receive regular payments in the coming year, and the fund will grow over time. Tiktok did not confirm whether there is a limit to the amount of money that creators will receive, nor how often they will pay or how much money the creators can make.

Creators who want to apply for funding must be 18 years or older, insist on publishing original videos, and create content that meets the tiktok community guidelines. The baseline number of fans is also required, but tiktok did not specify how many fans are needed.

Creators in the US can apply for funding in August, and the company is seeking to expand the fund globally, but has not said when it will.

This is not the first time tiktok has set up a fund for creators. At the end of May, the company launched a $50 million maker Learning Fund for teachers on the platform. Unlike youtube, tiktok operates more like instagram. Creators can play sponsorship videos on their channels, but they dont have a direct, ongoing monetization plan.

Now, tiktok wants to pay its creators on a regular basis, which is a way for tiktok to stay competitive. The company knows its creators will succeed on the platform, but tiktok also wants to keep them for as long as possible. (small)

Source: Qiao JunJing, editor in charge of Netease science and Technology Report_ NBJ11279