TikTok launches US-focused $200m fund to pay creators
Social media superstar TikTok has launched a $200m creators fund, designed to support those aiming to make a living through the app.
The Creator Fund will pay US creators for content they put onto the service, but details of the size of payments and how many producers would receive the money have not been released. There has also not been any news on how many followers would be required to secure payments.
TikTok said the fund would grow in size over time and expand from its US focus, with creators receiving regular repayments over the next 12 months. Those eligible must be over 18 and be regular posters of content to the site, with US-based users able to apply from August.
“Through the TikTok Creator Fund, our creators will be able to realise additional earnings that reflect the time, care, and dedication they put into creatively connecting with an audience that’s inspired by their ideas,” Vanessa Pappas, general manager of TikTok, wrote on a company blog.
The launch comes two months after TikTok, which remains mired in political strife, launched a US-focused $50m fund for teachers in May.
The company has also hired Kevin Mayer, Disney’s former head of direct-to-consumer and international team, who is stepping down to become CEO of TikTok and COO of its Chinese parent ByteDance.
Other appointments include that of former NBCUniversal and Fremantle exec Dominic Burns, who joined TikTok to oversee operations across Europe in May, as revealed by TBI