TikTok revealed that its overhauled creator fund has achieved a remarkable increase of over 250% in total creator revenue over the last six months.
The fund, which initially launched a year ago, is set to exit beta in the coming weeks and will be officially named the “Creator Rewards Program.” It replaced TikTok’s original $1 billion Creator Fund.
The updated program addresses creator concerns about low payouts in TikTok’s previous model, particularly for videos garnering millions of views. Unlike the original Creator Fund, the revamped program rewards creators for longer content, focusing on videos longer than one minute.
TikTok observed a significant shift, with users spending 50% of their time on longer content, leading to a nearly 40% increase in viewership of extended videos over the past six months.
TikTok’s initiative to compete with YouTube by introducing longer videos acknowledges that it doesn’t match YouTube’s level of payouts. YouTube, which shares advertising revenue with creators, distributed $30 billion in three years. Despite this, TikTok aims to entice creators to post their longer videos on its platform.
Additionally, TikTok announced the expansion of its LIVE Subscription monetization tool, now renamed simply as “Subscription,” to non-LIVE creators. The tool allows creators to engage with their audience through exclusive content and perks.
Initially offered on an invite-only basis, eligible creators will gain access in the coming weeks. The expanded tool enables creators to provide perks to subscribers for both their videos and LIVEs, offering exclusive content and subscriber badges for users who subscribe to a creator.
In further support for creators, TikTok is upgrading its Creator Portal education hub to the Creator Academy. This enhanced resource will provide creators with updated courses, articles, insights, and resources in seven different languages, with more to come. The upgraded Creator Academy is currently in testing and is expected to be available in the coming weeks.
