According to the company, the Fund seeks to support ambitious creators who are looking for opportunities to foster a livelihood through their innovative content, and encourage those who dream of using their voices and creativity to spark inspirational careers.
Application for the TikTok Creator Fund will be opened in August to US content creators. To be eligible, users must be 18 years or older, meet a baseline for followers, and consistently post original content in line with Tiktok’s community guidelines.
“Through the TikTok Creator Fund, our creators will be able to realize additional earnings that help reward the care and dedication they put into creatively connecting with an audience that’s inspired by their ideas,” said Vanessa Pappas, General Manager, TikTok US.
“In a relatively short time, TikTok has grown to become a source of income and opportunity for creators and their families – and we couldn’t be more encouraged by their success. As our community continues to flourish, we’re committed to fostering even more ways for our creators to earn livelihoods by inspiring joy and creativity.”
The new TikTok Creator Fund is not the first form of monetary opportunities provided by the social networking company. In April, Tiktok US announced the formation of a $50 million Creative Learning Fund, as part of the company’s $250 million pledge to support its community during the Covid-19 pandemic. The Fund which seeks to attract teachers to the platform is reported to have supported over 1,000 US creators in the production of learning contents on the social platform.
The introduction of the TikTok Creator Fund is also coming at a crucial time when the company is faced with mounting multinational criticism led by the US, its biggest market by revenues, over how it handles user data in relation to China. It’s in line with such criticism that Tiktok was banned alongside dozens of other Chinese Apps in India.