TikTok has announced that it is rolling out Creator Next, the only hub for all the platform’s monetization tools, and has also outlined some updates for its existing Creator tools (via Tech Crunch). In a post on TikTok’s Newsroom, the short-form video platform explains that along with Creator Next, it is also introducing its tipping feature extensively, allowing users to track their favorite creators. Can send direct money.
This is part of a larger effort to retain TikTok’s creators and prevent them from moving to other networks that pay creators, such as Instagram, Facebook, YouTube, and Snapchat. When the platform was only a year old in 2019, users struggled to find ways to make money locally through the app, as they had to secure deals and sponsorships outside the app. To help address this, the platform later launched its $ 200 million Creator Fund in 2020, distributing cash prizes to the platform’s most popular creators.
TikTok began testing Tips this October as another way for creators to make money, but it now appears that this feature is available to all creators who meet TikTok’s eligibility requirements. Qualifications include being over 18, having a good account, and having 100,000 followers or more. TikTok notes that the creators will receive 100% of each tip, and that they will be processed via a payment service stripe, with tippers paying a small fee. As Tech Crunch That said, going through Stripe ensures that TikTok doesn’t have to pay the required 30% commission for in-app purchases within Apple.
In its post, the platform also noted that it is expanding its Live Gift feature, which allows viewers to gift diamonds during live streams – a virtual currency that is compensable for cash. TikTok is now mixing video gifts, allowing users to donate diamonds during regular, non-live videos. Like TIPS, creators must have 100,000 followers or more (among other things) to be eligible. This is a huge change from Live Gift, which requires only 1,000 creators or more followers.
In addition, TikTok is giving more creators access to their Creator Marketplace, a portal where creators can find and collaborate with business partners to make money through sponsored videos. Creators now need 10,000 followers to access the marketplace, as they did with the previous 100,000 followers.
All of these tools will appear in the Creator Fund, Creator Marketplace, Live Gifts, Video Gifts, and Tips, Creator Next portals. TikTok notes that creators must “meet the minimum follower requirements”, which may vary by region, as well as 1,000 video views in the last 30 days to use Creator Next. Are The feature is only available in the US, UK, Germany, France, Italy and Spain, with support from Canada and Australia in the “coming months”.