TikTok to abolish content creator funding

Shannon-Dale Reid

2 years ago

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Come next month, content creators on the social app TikTok will no longer be able to earn from the platform as the app is set to terminate its Creator Fund, which pays users to make content.

Back in 2020, the fund was launched with $200 million but was rolled out the following year, after amassing over a billion in funding.

The fund which is currently valued at $2 billion, will end on December 16. It was created to give successful creators – people who make TikTok videos with at least 100k views – an opportunity to apply to make money off their videos. 

Nonetheless, according to TikTok, it is replacing the fund with another program that it says will pay creators more money. 

This move comes as many creators have criticized TikTok and the fund, saying it was not that lucrative for them.

In a statement, a spokesperson for TikTok told TIME magazine that the company is committed to creating “the best experience possible on TikTok and provide a robust ecosystem of monetization offerings to creators.”