TIKTOK Launches Creator Next, Could Be A Money Field For Creators

TikTok launches Creator Next, a platform monetization hub. In a post on the TikTok website, the Chinese tech giant explained that Creator Next will introduce a tipping feature, where users can give money directly to their favorite creators' content.

According to The Verge, this effort is made so that TikTok can retain its creators and prevent them from moving to other social media that have paid creators first, such as Instagram, Facebook, YouTube, and Snapchat.

When the new platform turned one year old in 2019, creators struggled to find a way to earn money natively through apps, as they had to get offers and sponsors outside of the app.

To help fix this, the platform went on to launch a USD 200 million Creator Fund in 2020, splitting cash to reward the most popular creator content.

TikTok started testing other ways for content creators to make money this October, but now the feature is available to all creators who meet TikTok's eligibility requirements.

To qualify, they must be over 18 years of age, have an account in good standing, and have 100,000 followers or more. TikTok notes that creators will receive 100 percent of each tip, and it's processed through payment service Stripe, while tippers will be charged a small fee.

The ByteDance subsidiary is also developing a Live Gifts feature, where viewers can gift diamonds, a virtual currency that can be exchanged for cash during streaming.

TikTok has also incorporated Video Gifts into the mix, allowing users to donate diamonds during regular videos and live streams. Just like Tips, creators must have 100,000 followers or more to qualify. But it's different from Live Gifts, which only require the creator to have 1,000 followers or more.

Additionally, TikTok gives more creators access to the Creator Marketplace, a portal where content creators can collaborate with business partners to earn money through sponsored videos. Creators only need 10,000 followers to access Marketplace, as opposed to the previous requirement of 100,000 followers.

All these features, Creator Fund, Creator Marketplace, Live Gifts, Video Gifts, and Tips, will appear in the Creator Next portal. TikTok notes that creators must meet the minimum follower requirements, which can vary depending on the region, as well as 1,000 video views in the last 30 days to use Creator Next.

The hub is also only available in the US, UK, Germany, France, Italy and Spain, but will expand to other regions of the country in the coming months.(*)

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