Looking into what TikTok is and how its creators can make money from the support offered through the TikTok Creator Fund, as well as the highest-earning creators.
If you are somebody that is fascinated with the social media space and tend to always hop on to the next social media platform to be launched, then you probably know of the platform called TikTok. If the answer is yes, then you are also aware that it is a platform where people make entertaining content for people to watch. TikTok users are referred to as TikTok creators, and you might be curious to know whether they make money from what they do, but in order to determine that, it is best to understand what TikTok actually is.
What exactly is TikTok and how is it used?
TikTok is a platform that was launched in 2017 by a Chinese company called ByteDance, and was the most-downloaded application in the United States (US) in 2020. The platform basically offers creators the opportunity to entertain large audiences by creating short 30 to 60-second videos of themselves doing anything from dancing, lip-syncing, performing comedy or making, and performing music amongst many other interesting things.
As the platform has grown, creators have found ways of expressing themselves through hobbies they enjoy, the unique skills and talents that they have by engaging and educating people on certain topics and professions. Companies and brands have even taken advantage of the platform as a way to advertise themselves and gain exposure. People have found ways to teach people what they know through their professions, whether it be doctors or motivational speakers. There is so much different content and information circulating on the app offering vast opportunities.
As with any other application, TikTok has managed to build up a large community of creators who are referred to as TikTok creators or TikTokers. Many have managed to establish themselves on the platform and build large support and following, through fans that enjoy and engage the type of content they produce. Those who have managed to grow large fan bases have opportunities to make money out of what they have built on their profiles. This is in terms of the number of followers they have, the views they get from posting videos, and the amount of likes they receive for their content. TikTok rewards them for this through the TikTok Creators Fund.
What is the TikTok Creator Fund?
The TikTok Creator Fund is how TikTok rewards its creators for the work that they put into entertaining TikTok users. It is also the platform’s way of offering support for creators who earn it and essentially keep the platform alive, with more and more people joining it. The fund is there to celebrate creators for the effort that they put into maintaining and growing their accounts.
You have to, however, be eligible to participate in the fund as you need to meet certain requirements. You must be 18 years or older and be a legal resident of one of the 50 states of the United States. You need to at least have gained a significant following on your profile of 10 000 followers and managed to gain at 100 000 video views in the last 30 days.
Certain factors will determine how your funds will be considered, including the amount of video views and engagement you get, as well as your abiding by TikTok’s Community Guidelines and Terms. You are able to find your funds in your Creator Fund Dashboard after three days from when video views are accumulated. You can withdraw your funds at the end of the month to move into your PayPal or other payment method.
Who are some of the highest earning TikTok creators?
Addison Rae, known as addisonre, is currently earning $5 million a year for her short dance videos on TikTok. As a former competitive dancer, she has over 70 million followers on the platform. Charli D’Amelio is a 16-year-old earning $4 million and is also a former competitive dancer who gained fame for her dance videos. Charlie has over 100 million followers on TikTok. Dixie D’Amelio, who is a sister to Charlie, earns herself $2.9 million with half the number of followers as Charlie, and she gained popularity for her singing. Loren Gray, who earns $2.6 million is a singer with 51.3 million followers on TikTok and has gained over 2 million likes per video. Josh Richards earns $1.5 million for his lip-syncing and dancing short videos. He has over 20 million followers and is 18 years old.
So, TikTok creators make lots of money especially from the support they receive from the TikTok Creator Fund for their produced content.