TikTok, the platform that has taken the world by storm, is more than just a space for viral dances and comedy skits. For many, it’s a significant source of income. But, how does TikTok’s financial ecosystem operate, and what can creators expect to earn? Let’s delve into the details.
The Enigma of TikTok’s PayScale
Though TikTok is one of the world’s most rapidly growing platforms, it’s not renowned for its generosity towards creators. Some well-known TikTok personalities, such as Mr. Beast and Hank Green, have expressed dissatisfaction with the platform’s remuneration policies.
So, what’s the average earning potential on TikTok? It’s believed that TikTok offers approximately 2 to 4 cents for every 1,000 views a video garners. This revenue model is made possible through the TikTok Creator Fund.
Unraveling the TikTok Creator Fund
The TikTok Creator Fund is a $300 million program designed to compensate eligible creators for their content. This fund primarily targets short-form TikTok videos. However, it doesn’t ignore creators of long-form content, offering a separate program for them.
Criteria for the Creator Fund
In order to be eligible for the Creator Fund, creators need to fulfil certain requirements:
Reside in the USA, UK, Germany, France, Spain, or Italy.
Be 18 years or older.
Boast a minimum of 10,000 followers.
have received 100,000 or more views on their videos in the last 30 days.
Maintain an account that complies with TikTok’s Community Guidelines.
Joining the Creator Fund
Applying for the Creator Fund requires logging in, going to settings, and choosing “Creator Tools.” The “Creator Fund” is located under “Creator Next.” Send in your application by clicking this link.
Introducing the TikTok Creativity Program Beta
The TikTok Creativity Program Beta is designed for creators who produce longer, high-quality videos. This program offers creators the chance to earn rewards for creating and publishing extended content. However, once you join the Creativity Program Beta, you can’t revert to the Creator Fund.
Eligibility for the Creativity Program
The criteria for the Creativity Program are identical to those of the Creator Fund.
Joining the Creator Program
If you’re already a participant of the Creator Fund, follow these steps to switch:
Open the TikTok app and tap Profile.
Tap the Menu button (☰), then Settings.
Tap Creator tools, then Creator Fund.
On the page, click the Switch button.
If you’re new to the Creator Fund:
Open the TikTok app and tap Profile.
Tap the Menu button (☰), then Settings.
Tap Creator tools, then Creativity Program.
You’ll receive a notification within three days of applying, informing you whether your application has been successful.
TikTok’s Payment Algorithm
TikTok’s compensation model is based on several factors:
Number of views.
Authenticity of the views.
Level of engagement.
Quantity of published content.
Although some creators feel that this model could be improved, the more videos you produce, the higher your potential earnings. For instance, the Creator Fund compensates around 2 to 4 cents per 1,000 views. Therefore, if your video racks up one million views, your earnings could range from $20 to $40. If your video goes viral with 10 million views, you could earn between $200 and $400.
Note: Not all videos qualify for the Creator Fund. Videos made before acceptance, livestreams, duets, and stitches are not considered.
The beauty of the TikTok Creator Fund is that the earning potential is limitless—it all depends on the number of views your videos can amass.