TikTok is shutting down its $2 billion Creator Fund, a program designed to help users make money by creating content for the app. According to a 2020 news release from TikTok, the fund aimed to “provide money to ambitious creators to enable them to create a living through their innovative content.” Through the fund, creators made money based on their shares of platform views.
After the fund launched, many creators voiced their concerns, saying it made TikTok monetization difficult. Hank Green, a well-known YouTuber, and other TikTok creators expressed frustration with the low income generated by the platform. According to NBC, at the time of his complaint video, Green, who has 8 million followers on TikTok said that per 1,000 views, he was making roughly 2.5 cents.
According to The Verge, the fund will be discontinued across the U.S., UK, France and Germany on Dec. 16.
“The Creativity Program was developed based on the learnings and feedback we’ve gained from the previous Creator Fund,” the spokesperson said in an email statement. “As we continue developing new ways to reward creators and enrich the TikTok experience, we value the feedback and direct insights from our community to help inform our decisions.”
After launching its Creativity Program a few months ago, TikTok sought to resolve some creators’ initial complaints about the fund. Applicant guidelines for the Creativity Fund must be based in the U.S., over 18, and have more than 10,000 followers and at least 100,000 views within the past 30 days.
TikTok said creators can “earn up to 20 times the amount previously offered by the Creator Fund,” according to NBC.
“Videos that are eligible for the program must be longer than a minute and earn at least 1,000 views, and they must abide by the platform’s community guidelines, among other criteria,” it reads.
