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TikTok has increased the TikTok Creator Fund from $200 million to $1 billion. Can making videos on TikTok become a full-time job?
TikTok is a popular video-sharing platform that is rooted in the creativity of many TikTok creators. Many creators and artists showcase their talents through TikTok but such content creators were not receiving as many financial benefits as they would from other social media apps like YouTube and Instagram unless they had a huge number of followers.
But now it is going to change because the app is launching the TikTok Creator Fund to encourage such creative video creators to use their voices and imagination to forge inspirational careers.
With the ever-looming threat for TikTok to get banned, it is not going down without a fight. TikTok has realized the value of creative content creators and thus they have announced their one billion dollar TikTok creator fund. But what exactly is this TikTok Creator fund? Is it available to everyone? Here is everything you need to know about the TikTok creators fund.
What is the TikTok Creators Fund?
The TikTok Creator Fund is basically a program that gives opportunities to ambitious creators who can apply to receive a certain amount of money to make a career for themselves using the TikTok platform which inspires and encourages other content creators to do so as well.
In the US only, TikTok had initially introduced the $200 million dollar fund which is now announced to grow over the next few years up to $1 billion dollars. Globally, this fund would be more than double this amount.
It is a type of incentive for the creators and a way for TikTok to give back to the valuable content creators. This initiative from TikTok has proved and made us realize the importance and worth of a TikTok content creator in this day and era of technology.
What are the eligibility requirements for the TikTok Creator Fund?
- TikTok creators must be an adult (18 years or older)
- You must have at least 10,000 followers on your account (basically you must have some level of popularity)
- Must have a minimum of 10,000 views on your videos in the past month.
- Your content must be original that meets the TikTok community guidelines.
TikTok Creator Fund Application Process
As of August 20, 2020, TikTok has not officially shared more information on the step by step guide for the TikTok creators fund application sign up process.
However, since the application started in August, few content creators have successfully applied for the TikTok Creator fund, and here are the steps they followed for application. You may also try these steps mentioned below.
- First, make sure that you meet the above-mentioned eligibility criteria.
- Then go to your TikTok inbox and check for a notification from TikTok. Yes, even if you are eligible you first need to receive an invitation from TikTok.
- If you have received the notification then it must have mentioned something like “Turn your creativity into opportunity! Apply to the TikTok Creator Fund.”
- This notification prompts you to fill an application form where you need to confirm your interest to join the fund and provide your email address as well.
- Finally, TikTok will take you to a freshly made TikTok Creator Fund Dashboard where you can monitor the amount credited to your account as per your content and views.
The payment mechanism is based on Paypal which would act as a middleman between your bank account and the TikTok creator fund for whenever you want to withdraw your allocated amount.
Some of the content creators who have already received money from this creator fund are popular TikTokers like @acooknamedmatt, @avani, @alex.stemp, @brittany_broski, @feelgoodfoodie, and many others.