khaskhabar.com : Tuesday, November 07, 2023 2:33 PM
San Francisco. Chinese short-video making app TikTok has closed its $1 billion creator fund with effect from December 16.
A TikTok spokesperson told The Verge that creators in the US, UK, Germany and France will no longer be able to monetize their work through Native Fund.
The TikTok creators community in Italy and Spain is not affected by this development.
TikTok’s Original Fund was launched in 2023 with a three-year commitment. It has been told in the report that the creators who are part of the fund will be able to participate in the creativity program.
However, influencers and other content creators complained of low payouts, making it impossible to earn a living through Creator Fund alone.
In May, the Chinese short-form video platform opened its new Creator Fund, called Creativity Program Beta, to all eligible creators in the US.
To join the program, creators needed to have at least 10,000 followers and 1,00,000 views in the last 30 days.
The company initially began testing the new program with select creators in February.
According to the company, the new program was designed to generate higher revenue and unlock more real-world opportunities for creators.
TikTok said, “Designed to help creators fuel their creativity, generate higher revenue potential, and unlock more exciting, real-world opportunities, the Creativity Program Beta is the latest addition to our range of monetization tools , which helps reward creators of all levels.”
To start earning, creators must create and publish high-quality, original content longer than one minute, the company said.
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