TikTok is Killing Its Creator Fund After Months of Criticism From Influencers

And it seems most creators gained’t be unhappy to see it go. The video-sharing platform introduced Monday that the fund — by means of which TikTok promised to pay creators $1 billion — will likely be discontinued in December.

“Our final purpose is to create the very best expertise doable on TikTok and supply a sturdy ecosystem of monetization choices to creators,” the corporate stated in a press release.

The change will impact creators within the US, UK, France, and Germany.

As a part of the Creator Fund, TikTokers might earn cash primarily based on what number of views their movies acquired. However some content material creators stated the app was underpaying for even probably the most viral movies.

Final yr, high creators Hank Inexperienced and MrBeast referred to as out the fund, which launched in 2020, saying it paid simply pennies for each 1,000 views on TikTok.

Victoria Paris, a 24-year-old full-time influencer, beforehand informed Insider that she earned simply over $40,000 from TikTok’s creator fund in 2021. Paris stated she depends on model offers as her predominant supply of revenue as a substitute her movies alone.

However the tides started to show when TikTok launched the Creativity Program, which pays creators extra for movies longer than one minute. Paris stated she will be able to earn round $10,000 per 30 days from TikTok views as a part of the Creativity Program.

Shawn Owens, 27, stated the Creator Fund isn’t set as much as profit micro-influencers like himself. Regardless of having 70,000 followers and loads of viral moments, Owens stated he “by no means made any substantial cash from the Creator Fund.” He didn’t present precise figures for a way a lot he’s made out of the fund.

“I gained’t miss the Creator Fund,” he informed Insider. “For my part, it was arrange for already established and well-known creators.”

Creators who’re enrolled in TikTok’s creator fund have the choice to improve to the Creativity Program in the event that they want to monetize their content material, the corporate informed Insider.

This text was written by Jordan Hart from Business Insider and was legally licensed by means of the DiveMarketplace by Trade Dive. Please direct all licensing inquiries to legal@industrydive.com.

Study extra:

How TikTok Brought Back K-Beauty

Whereas the Okay-beauty craze of the 2010s has waned in recent times, manufacturers and retailers are seeing renewed curiosity in South Korean magnificence.