The TikTok Creator fund has been available in Europe since September 2020. The scheme allows content creators to be paid for the videos they post on the app. But what are the conditions to meet to be eligible? And is the TikTok Creator Fund living up to its promises?
What is the TikTok Creator Fund?
In recent years, the profession of influencer has become so popular that it is now becoming a socially acceptable career path. Nowadays, it’s no huge surprise that you can make an income from your social network activity, and the opportunity to do so is attractive to content creators in every field.
To keep up with this trend, in 2020, TikTok started a Creator Fund. The fund enables content creators to get paid for the videos they create and post to the app. On a global scale, TikTok initially invested 200 million dollars into the Fund, with the goal of hitting a billion dollars in three years. It was an attractive promise for content creators, who reached out in their droves to benefit from the Fund when it launched. The scheme’s objective is of course to encourage users’ creativity and propel burgeoning careers. TikTok is tapping into the dream shared by every influencer on the platform: to make a living from their passion thanks to social media.
Who can benefit from the Creator Fund?
To apply for the Creator Fund, TikTokers must meet a few conditions:
- Be located in the US, UK, France, Germany, Spain, or Italy (other countries should join over time)
- Hold a professional account
- Total at least 10,000 followers
- Have totalled at least 100,000 views over the last 30 days
Of course, applicants must also be at least 18 years old, and comply with all the app’s T&Cs and community guidelines. So, it’s important to have a certain audience and the beginnings of success on the platform to be eligible for the Fund. That said, there’s no limit to the number of creators who can benefit from the financial payout. In theory, there’s room for everyone!
How to apply to TikTok’s Creator Fund
Since users must fill certain criteria before becoming eligible, access to the Fund is granted through an application process. You can send your application straight from the app, from you pro or creator account.
If you meet TikTok’s requirements and are 18 or older, all you have to do is read and agree to the Creator Fund rules before submitting your application. Your application is then reviewed. If your application is successful, you’ll begin receiving payment based on your TikTok videos’ performance (views, engagement, etc.). Of course, you’ll be able to follow your account stats on a dedicated dashboard.
Is TikTok’s Creator Fund really worth it?
TikTok is the embodiment of what a viral app should be in 2022. Its somewhat unexpected success, and the new generation of influencers it has fostered, is a thing of dreams for many users. So, this Creator Fund comes along with the promise of making the job of influencer more mainstream, but what’s really going on behind the scenes? Do creators who benefit from the scheme really make a decent living?
How much are TikTok creators paid?
The first question to tackle is how payment is calculated. The amount that each creator receives is calculated based on the following indicators:
- Video views
- The authenticity of those views
- The engagement rate of the videos (shares, likes and other reactions)
So, the income is variable and can change from one video to the next and even from creator to creator, depending on how well their content performs.
How much can you expect to get from the Fund?
On the official Creator Fund website, TikTok boasts that there is no limit to how much a creator can earn, suggesting handsome payments and comfortable earnings. But in practice, many influencers have been left disappointed with the Fund’s payouts.
Obviously, world-renowned creators with global platforms can do a good job of giving something a bad reputation if they want to, which is exactly what happened in early 2022. Influencer and YouTuber Hank Green expressed his disappointment with the Fund to his six million followers. He claimed that the Creator Fund pays $0.02 to $0.03 per 1000 views, which works out as between $20 and $30 for a video with one million views. These amounts seem to contradict TikTok’s claims of helping young influencers make a living from their passion. Compared to what creators are used to earning on YouTube, thanks to the platform’s ad revenue sharing scheme, the amounts TikTok’s Creator Fund offers are negligible.
Of course, Hank Green wasn’t the only disgruntled TikToker to air his views. Other influencers, like Alicia Trautwein and Nikki Apostolou, shared his disappointment and backed up what he said about the Creator Fund.
Overall, it would be difficult to say that TikTok has delivered on its promise. Admittedly, the Fund does offer a small additional income to creators, and it can be quite easy to become part of the scheme, but the amounts you can expect to earn are hardly worth writing home about. Fortunately, though, there are other more promising ways to monetise your TikTok account.
Other ways to monetise your reach on TikTok
Is your TikTok audience starting to grow significantly and you want to effectively monetise your account? As we saw, the Creator Fund will earn you maybe $20 to $50 per month for several million views.
But to earn a more substantial income as a TikTok content creator, you have the following options:
- Make the most of your account’s popularity to sell your own products
- Forge partnerships with brands to create sponsored videos or integrate product placements into your content
- Incite your followers to send you tips or donations (this option is available from 1000 followers)
- Join an affiliate program, and embed links in your videos
Of course, this list doesn’t show every possible way to monetise your account. Some creators also sell their TikTok expertise to brands and businesses. Think about it: being an influencer on TikTok is a new endeavour that requires a lot of skill, and companies just don’t have that knowledge and ability.
In short, earning money through TikTok is totally possible, and some creators even make quite a tidy sum for themselves every month. That said, you probably won’t benefit from relying solely on TikTok’s Creator Fund for regular income. Expand your horizons and aim to exploit various revenue sources.