TikTok is now directly paying creators. The viral video app just announced a $200 million “creator fund,” with applications opening in August
A spokesperson for TikTok said the app is “looking to help support ambitious creators who are seeking opportunities to foster a livelihood through their innovative content.” Fund recipients will receive regular payments throughout the year, and the TikTok says the fund will get larger. Applications for the fund open in August, and only people aged 18 or older will qualify for the new fund — leaving out plenty of popular teenage creators.
Still, for those who gain a large enough following, monetization is available via other means. Young artists are consistently scoring lucrative record deals thanks to their viral tunes on the app: Breland, for example, signed a deal with Atlantic Records after the success of “My Truck,” and Lil Nas X’s “Old Town Road” had its beginnings as a TikTok hit.
Prior to Thursday’s announcement, TikTok had bolstered potential branding opportunities by establishing a creator marketplace, designed to help brands and companies connect with creators. The company recently also started a $50 million creative learning fund that supports teachers’ content, but the new fund is the most hands-on TikTok has been in getting cash into its creators’ pockets.
“To further support our creators, we’re launching the TikTok Creator Fund to encourage those who dream of using their voices and creativity to spark inspirational careers,” TikTok U.S. General Manager Vanessa Pappas said in a statement. “In a relatively short time, TikTok has grown to become a source of income and opportunity for creators and their families – and we couldn’t be more encouraged by their success.
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