TikTok has revealed that its updated creator fund significantly boosted total creator revenue by more than 250% within the past six months.
Creator Fund of TikTok
The Creativity Program fund, introduced a year ago as a replacement for TikTok's initial $1 billion Creator Fund, is set to leave its beta phase in the upcoming weeks.
Additionally, TikTok announced the expansion of its LIVE Subscription monetization tool, which will now cater to non-LIVE creators and be rebranded simply as "Subscription."
In a statement, the company highlighted the progress made since the beta release of the Creativity Program, emphasizing a substantial surge in total creator revenue and a nearly doubled count of creators earning $50,000 monthly in the last six months.
The Creativity Program was designed to enhance revenue prospects and unlock real-world opportunities. It is now named the Creator Rewards Program, which will soon exit beta with enhancements.
Creator Rewards Program of TikTok
The Creator Rewards Program will maintain its focus on rewarding high-quality, original content exceeding one minute in duration, utilizing an optimized rewards formula centered around four key metrics: originality, play duration, search value, and audience engagement.
TikTok claims that its initiative to introduce longer-form videos on its platform in 2022 has been met with enthusiasm from its user base. Statistics indicate that users now spend half of their time watching longer content on TikTok, with the viewership on extended videos surging by nearly 40% in the last six months alone.
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