We’ve got amazing news for TikTok users—the social platform recently unveiled a $200 million (!) Creator Fund. Truthfully, it’s been a long time coming, as top influencers and creators have routinely expressed a desire to earn revenue from the viral content they create.
In her statement yesterday afternoon (July 22), TikTok U.S. General Manager Vanessa Pappas explained:
“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…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. As our community continues to flourish, we’re committed to fostering even more ways for our creators to earn livelihoods by inspiring joy and creativity.”
Interested? We don’t blame you!
here’s What we know:
Creator Fund applications open on August 8th, 2020.
Sadly for a majority of the app’s users, you have to be 18+ to apply for the fund. This stipulation means TikTok’s most famed creator, Charli D’Amelio (16) won’t be able to apply. Sorry Charli!
Rumor has it there’s also a follower requirement to qualify for the fund, which has yet to be disclosed. (If this were based on followers alone, Charlie would be swimming in cash —although we hear she already is.)
The Creator Fund isn’t the first TikTok initiative to support creatives.
The popular app also provides these opportunities:
The Creative Learning Fund
The Creative Learning Fund aims to support creators and TikTok users during COVID-19 with educational content and resources, in addition to giving other brands and seasoned pros the spotlight, including Bill Nye the Science Guy, Neil Degrasse Tyson, wellness brands like Headspace, and researchers at Aquarium of the Pacific, to name a few.
TikTok LIVE Streams
LIVE streams on TikTok have proven to be incredibly lucrative for creators. Between brands offering monetary compensation for boosting products and creators advertising their own small businesses and online shops, LIVE Streams have proven to be a viable option for making money off of your content, albeit indirectly.
TikTok Creator Marketplace
The Marketplace was designed to help brands and companies get in touch with creators who have access to their desired audience. As a creator, being discoverable here is invaluable.
About sophia pelosi
Sophia Pelosi is the Associate Marketing Manager at BlogHer, as well as a contributing author to BlogHer.com. She lives in New York City, and is passionate about pasta from scratch, daily meditation, 70s disco fashion and her beagle Lucy. She graduated from Colby College in 2019. Follow her on Instagram.