Here’s how much will TikTok Creator Fund pay the eligible creators
Can you make a whole living by becoming a full-time creator on TikTok? How do you get into the Creator Fund and how much will the TikTok Creator Fund pay you if you just rely solely on it to make money?
The answer is, that number won’t be much. Keep in mind that many monetized features and programs for doing business and making money on TikTok are still limited and the platform is testing a lot of other features to ensure its business and at the same time support users comfortably creating content.
So how will the fund calculate paychecks for creators and what more updates will TikTok do in the future to innovate the Creator Fund? Will the fund become a second “Youtube Partner Program”?
Where do TikTok get the money for the Creator Fund?
According to Julia Alexander, a writer at The Verge: “As TikTok continues to grow in popularity and its personalities become mainstream celebrities in their own right, the company is trying to keep talent with a new $200 million creators fund.
The fund is meant to support ambitious creators who “are seeking opportunities to foster a livelihood” on the app, a TikTok spokesperson told The Verge. It marks the first major effort from TikTok to pay creators directly for their content. Prior to this, creators could monetize live streams, but the new program will pay people directly for making videos.
Creators will receive regular payments over the coming year, and the fund will grow over time. The company did not confirm if there’s a limit to how many creators will receive funding. TikTok also did not say how often payments will be made or how much creators can earn.
Well, that was just the start. After getting an incredible response, TikTok and its interim CEO Vanessa Pappas said that the Fund would go to $1 billion in the U.S over the next three year and double on a global scale too.
That being said, the TikTok Creator Fund is a huge pile of money which has been set aside starting with $200 million, and gathering the next $1 billion in the next few years, waiting for the creator like you to join the Fund and get monetized on the platform.
How much will TikTok Creator Fund pay?
The biggest TikTok influencers – ones like Charli D’Amelio (101.5 million followers), Michael Le (42.4 million followers) and Josh Richards (23.4 million followers) – all made at least $1 million in 2020, according to Forbes. Nevertheless, most of that money is earned through the sales of merchandise and sponsored content for big brands, rather than ad revenue.
Frankly speaking, the way the TikTok Creator Fund works is a lot like how the Google Adsense of Youtube Partner Program (YPP) works. Everytime you upload a video on Youtube, some ads are going to be displayed on it and you make a couple of dollars.
But here’s the thing. It’s Youtube, the biggest video-sharing platform on this planet having tons of advertisers which are promoting their brands and identities on. As a result, there are also lots of opportunities for monetization.
And not only ads, Youtube have developed other monetized features like Super Chats & Stickers, Youtube Premium,… as a beneficial method for making money.
Right now, TikTok does not work that way yet. They do, sort of, but the current ads feature of TikTok are still limited and in fact there are very few advertisers on the platform. The advertising revenue isn’t big enough to pay out creators, so TikTok had to gather private money and it is distributed out to the Fund’s eligible creators in a Google-Adsense-type of way.
What you should do now is get qualified to the Fund and start making videos then you will start making money everyday. The amount of money you make is hugely based on your video’s performance. In other words, good means more, and the money will vary hugely.
You may only get 2 – 4 cents in the beginning but the figure can rise up to $100 on day 10, then fluctuate from that point to the end of the month. You absolutely have no idea how the TikTok Creator Fund pays but keep in mind that your job is to become an influential creator.
Check the earned revenue in TikTok creator Fund dashboard
To begin with, you can see the total estimated balance in the middle of the dashboard. Your balance for each month can be withdrawn approximately 30 days after the end of that month. So it’s a 60 days net, while TikTok sums up the numbers for 30 days and you get paid 30 days after that.
Speaking of the money-paying, you would of course know of the controversial TikTok ban from former President Trump in 2020, wouldn’t you? The whole idea of it was that TikTok was sending data over to the communist government of China.
Once you provide your bank account on the platform for the monthly paycheck, the China government can get access to that, so that’s why Trump stepped in and literally raised a war in terms of politics, the trade war between two countries and those who are TikTok enthusiasts were so frustrated for a while.
There was lots of hatred for the former president but in the end of the day, Trump did a good thing and tried his best to make his citizens safe. But now, since TikTok is owned by Oracle (Austin, Texas), they comply with the American’s law so your personal information is now secure.
Back to the point, when you’re eligible for the Fund, the money you make can change greatly. We, again, just like you, have no clue how the algorithm TikTok uses to calculate these numbers. The platform itself hasn’t planned anything to spill the tea either.
Therefore, you need to maintain a stable mindset and ask yourself questions, why do you become a TikTok creator ? Remember that starting a TikTok account is about growing it, not seeing huge numbers from the very first moment.
The numbers will be roughly equivalent to the number of videos you uploaded. The video performs well, you get paid more money. Furthermore, if that video keeps trending on the platform, you will continue to make more and more.
If any of your videos hit a few million views, make a few more videos with roughly the same content and don’t forget to include the relevant hashtags so you can get to the virality level as quickly as possible.
FYI: Where does the $1 billion come from?
You may be wondering that with the increasing number of TikTok Creator Fund participants, the money in the fund will run out and where does TikTok get that $ 1 billion? The answer lies in TikTok’s parent company – ByteDance.
ByteDance is a Beijing-based company and one of the largest, most valuable, privately held in the world. The money may not be solely coming from China but we believe that the majority of it is from ByteDance and other Chinese investors.
Our opinion on the TikTok Creator Fund
From our point of view, we honestly have no problem with the fact that TikTok is owned by a major media company in China and some of the platform’s scandals in terms of information security, that it doesn’t naturally americanized. And we think you should also have a peace of mind when experiencing this platform too.
TikTok is now much safer than it was before it was acquỉed by Oracle. Moreover, with the goal of becoming a worthy competitor to Youtube, TikTok will still have many more impressive steps for users to unleash their creativity on this playground.
So to say, sign up for AudienceGain right away to let us know what you are planning for to become a TikTok influencer and join the TikTok Creator Fund.