TikTok Introduces Monetization Features

TikTok Introduces Monetization Features

TikTok is introducing add-ons that will enable its producers to get paid for their video starting today. The company is rolling out this feature under the aegis of what it tags ‘Creator Next’ platform, which culminates all TikTok’s monetization options.

While the short-video-making platform already allows creators to take virtual presents from fans during Live videos sessions, the company is including Tips and Video Gifts that will allow creators to accept payments and gifts when they aren’t live to stream.

Furthermore, the company is increasing access to its Creator Marketplace which allows businesses to interact with creators for content sponsorship. Thereby allowing any content creator with over 10,000 followers, access to the marketplace to work with companies on different projects.

The new feature will allow content producers to earn tokens from their videos and provides viewers with the means of expressing support for their favorite creators. This move sets the stage for TikTok amongst the other players such as Instagram and YouTube who make a living from promotional activities on these platforms.

The company had been spotted during its testing phase last month, although the tool was only available to a select few users. Creators who participated in the trial had to have at least 100,000 followers and be in the good books of the company throughout the test period and those approved were given a Tips button to add to their profiles which enabled them to get direct payment.

In the interim, the monetization feature is available in locations like the U.S, U.K, Germany, Italy, and Spain, while access in Canada and Australia will come months after. According to the company’s website, eligible creators must meet certain guidelines, such as 18years minimum age qualification, must meet the required number of followers which is determined by location, must have 1000 views in the last 30days and at least 3 posts within that period, as well as other TikTok guidelines.

The company states that the creators will receive their full tips, except for service fees that will go to the company overseeing the payment processing, Stripe. The video gifts however allow creators to collect virtual gifts on their videos as well as their live broadcast.

The new feature will also avail creators of various alternatives for monetization options which allows them to get paid for their arts. This could be said to be a response to competition among the platforms to encourage and keep good content creators.

The Author

Ajisebutu Doyinsola

Doyinsola Ajisebutu is a journalist and prolific writer who takes a special interest in Finance, Insurance, and the Tech world.