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TikTok’s $1 billion creator fund is shutting down | The Verge
(www.theverge.com)
This is the best summary I could come up with:
Creators in the US, UK, Germany, and France will no longer be able to monetize their content through the original fund, TikTok spokesperson Maria Jung says.
The creator fund was originally introduced in 2020, with the company promising to pay out $1 billion over the course of three years to people making the app’s viral content.
In February of this year, the platform introduced a new monetization method that it said would result in higher payouts for popular creators: the Creativity Program.
Unlike the original fund, the Creativity Program requires creators to make videos longer than one minute — a marked difference for an app that first blew up through short clips.
That TikTok’s original fund is on its way out isn’t surprising — the program was limited to a three-year commitment with a set amount to give out.
YouTube especially has seized on the issue of low payouts by offering ad revenue sharing on Shorts, its TikTok competitor.
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