Thursday, February 22, 2024

TikTok introduces creator monetization opportunities including tips and video gifts

TikTok is now allowing its creators to earn money from their content. While the platform already allows blue tick creators to receive virtual gifts from fans during TikTok LIVE broadcasts, the inclusion of Tips and Video Presents will allow them to collect money and gifts when they aren’t livestreaming. These updates come alongside a new “Creator Next” interface that consolidates all TikTok monetization options.

As part of its 2019 Creator Marketplace, which connects marketers with blue tick creators of TikTok for sponsored content and suggestion films, it is expanding access. TikTok creators with 10,000+ followers may now join the TikTok Creator Marketplace to work with brands on various projects.

To make money from their videos, producers may use the tipping and video gifting features while viewers can support their favourite creators in innovative ways. These new capabilities place TikTok in direct rivalry with other social media platforms like Instagram and YouTube, where content creators can earn money from their work.

Last month, the business was seen testing the new direct tipping feature, but it was not yet widely available. Creators have to have at least 100,000 followers and be in good standing with TikTok to participate in the tests. Once they were accepted, they received a Tips button to place on their profiles.

TikTok Policy For Creators

Creators in the US, UK, Germany, France, Italy, and Spain can now use TikTok’s monetization tools. (Canada and Australia will get access soon.) The Creator Next website states that potential creators must be 18 or older and have a minimum of 100,000 followers, which varies by area. They must also have at least 1,000 video views and 3 posts in the last 30 days. Their accounts must be at least 30 days old and in compliance with TikTok’s Community Guidelines.

TikTok says creators will get 100% of tips. Tippers pay a tiny service fee to TikTok’s payment provider, Stripe, but the firm doesn’t take a cut. (This avoids the App Store’s in-app purchase fees.)

However, unlike LIVE Gifts, video gifts let users accumulate Diamonds (the virtual gift) on short movies rather than just live broadcasts. Unlike Tips, LIVE Gifts only require 1,000 followers, whereas Video Gifts demand 100,000.

The Creator Next online platform also connects creators to alternative revenue options including the Creator Marketplace and TikTok’s Creator Fund.

The new capabilities come as the main social platforms compete for creator talent. Facebook, Instagram, YouTube, Snap, Pinterest, and LinkedIn all now offer creator incentives to reward popular content creators and keep them on their platforms. Twitter is also launching a creative platform called Super Follows, which allows creators to subscribe. Instagram started testing subscriptions earlier this month.

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