TikTok Launches $200 Million Fund for Creators

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TikTok is rolling out a new initiative to help creators on the platform turn their video-making prowess into a career.

Last week, the video platform announced in a press release that they’d be creating a $200 million Creator Fund to “encourage those who dream of using their voices and creativity to spark inspirational careers” and would distribute the fund “over the coming year.” 

The TikTok Creator Fund is an additive to the company’s existing $50 million Creative Learning Fund, which benefits teachers on TikTok, as well as TikTok live-streams and the TIkTok Creator Marketplace. Both opportunities offer creators chances to make money on the app through various streams; Live-streamers can monetize their audience while the Creator Marketplace “helps brands discover and partner with innovative creators to collaborate on paid campaigns that drive awareness and attract new customers.”

Those interested in the TikTok Creator Fund must be over the age of 18 to be eligible and consistently post original content in line with Community Guidelines. Applications for creators in the United States open in August and recipients of the fund will see the money “distributed over the coming year.” The brand also claims that they expect the fund to “grow over that time.”

The Creator Fund comes amid the brand being involved in public turmoil. Secretary of State Mike Pompeo and other U.S. officials announced earlier this month that they are considering banning the Chinese-born app over privacy concerns. Major companies such as Wells Fargo have even instructed their employees to remove the app from company devices, according to CNN.

With TikTok’s future in the States being so uncertain, it’s not particularly surprising that fellow video applications Instagram and YouTube have also revealed that they’re working on their own short-form video platforms, respectively. Instagram’s iteration, Reels, is slated to launch next month. YouTube’s, called Shorts, is reportedly slated to launch by the end of the year. 

Tags: Pop Culture

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Written By

Rose Low

Rose Low is a writer based in New York, with a background in social media strategy and reporting. She has a Masters from NYU and a love for romantic comedies. See Full Bio

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