Social media platforms like TikTok and their biggest creators have a symbiotic relationship. Those millions of views top content creators pull in earn platforms a lot of money, so it’s in their best interests to create creator incentives to keep producing content.
TikTok has a handful of payout opportunities now, like its new tip-jar feature. The wildly successful platform has now decided to take creator monetisation to the next level with ‘Creator Next’, a hub with unlockable tools that “offer a variety of ways for the TikTok community to reward their favorite creators.”
TikTok and its creators take their relationship to the next level
Bundled into the hub are three major monetisation options: tips, video gifts and the TikTok Creator Marketplace.
The first is pretty self-explanatory, and has been in testing since October. Now it’s available to all creators who meet the eligibility requirements: be 18 or older, have an account free of blemishes (such as suspensions, flagged content, etc.) and have 100,000 followers or more. TikTok doesn’t skim anything off the top of these tips either, according to an official announcement. 100% of them go to creators.
Video Gifts are an extension of an existing idea, Live Gifts. On TikTok, users can donate ‘Diamonds’ to creators during live streams, which can be exchanged for cash. Now users can donate diamonds during pre-recorded videos too, though, as with tips, only creators with 100,000 or more followers can take advantage of Video Gifts.
Interestingly enough, that’s ten times the amount needed to receive Live Gifts.
Finally, the TikTok Creator Marketplace (TTCM) is being expanded to more creators too. The TTCM is a platform for creators to collaborate with brands and acquire sponsorships. Sponsorships have long been a staple method of creator monetisation on social media platforms. The TTCM was originally only open to creators with 100,000 or more followers. TikTok is slashing that number to 10,000, expanding the realm of opportunities for both brands and creators.
Creator Next is currently available in the UK, US, Germany, France, Spain and Italy, but will expand support into other countries within the next few months. This comes as social media platforms joust to keep their creators on-board at their content popular, with many offering new monetisation options to popular creators.