TikTok Deploys Creator Next, Expands Money Making Opportunities For Creators
TikTok announced the rollout of Creator Next, a single hub for all monetization tools on the platform, and it also featured a few updates for its existing authoring tools (via TechCrunch). In an article on the TikTok newsroom, the shorthand video platform explains that alongside Creator Next, it also widely introduces its tip feature, which allows users to send money directly to their creators. favorite.
This is part of TikTok’s larger efforts to retain creators and prevent them from jumping onto other networks that pay creators, like Instagram, Facebook, YouTube, and Snapchat. When the platform was only one year old in 2019, users struggled to find ways to make money natively through the app as they had to get offers and referrals outside. of the application. To help remedy this, the platform then rolled out its $ 200 million creation fund in 2020, splitting the money to reward the platform’s most popular creators.
TikTok started testing the cheats as another way for creators to make money in October, but now it looks like the feature is available to all creators who meet TikTok’s eligibility criteria. Qualifications include being over 18, having an account in good standing, and having 100,000 or more subscribers. TikTok notes that creators will receive 100 percent of each tip and will be processed through the Stripe payment service, with tips incurring a nominal fee. As TechCrunch points out, by going through Stripe, TikTok will not have to pay the 30% commission required by Apple for in-app purchases.
In its post, the platform also noted that it is expanding its live giveaway feature, which allows viewers to gift diamonds – a virtual currency redeemable for cash – during live broadcasts. TikTok is now adding video giveaways, allowing users to donate diamonds during regular, non-live videos. Just like with tips, creators must have 100,000 or more followers (among others) to qualify. This is quite the change from live giveaways, which only require creators to have 1,000 or more followers.
Additionally, TikTok gives more creators access to its Creator Marketplace, a portal where creators can find and collaborate with business partners to make money through sponsored videos. Creators now need 10,000 subscribers to access the marketplace, up from 100,000 subscribers previously.
All of these tools, including the Creator Fund, Creator Marketplace, Live Giveaways, Video Giveaways, and Tips, will appear in the Creator Next portal. TikTok notes that creators must “meet minimum subscriber requirements,” which may vary by region, as well as 1,000 video views in the past 30 days to use Creator Next. The feature is also only available in the US, UK, Germany, France, Italy and Spain, with support for Canada and Australia arriving in the “coming months”.