TikTok, the social platform that has captivated people of all ages with its music, dances, personalities, and brands, continues to be in the spotlight due to the changes it is undergoing. From the discontinuation of the Creator Fund to the clash with Universal Music after the contract for using their artists' music on the platform ended, TikTok remains on trend. In this article, we'll share all the details about the latest developments that have everyone talking about this platform.
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Contents Closure of1. TikTok's Creator Fund in Spain 1.2 Other Alternatives to the Creator Fund for Monetizing on TikTok |
Closure of TikTok's Creator Fund in Spain
It seems that TikTok's beloved Creator Fund is bidding farewell in Spain on February 24th. What a pity! Launched on March 25, 2021, this program aimed to reward content creators with over 10 thousand followers and at least 100,000 views in the last 30 days upon joining.
The introduction of this fund marked the beginning of an exciting journey into a universe of opportunities within TikTok. An initial step that promised to propel the creativity and imagination of participants. This ambitious project kicked off with an allocation of 60 million euros for thousands of creators across Europe, with plans to expand it to a whopping 225 million euros.
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However, TikTok's Creator Fund was far from being a stable or significant source of income for those dedicated to sharing videos on this social network. In reality, the rewards could be quite modest, sometimes not even reaching a euro for every thousand views. What a letdown!
Renowned content creators and social media maestros like the American Hank Green and Mr. Beast were not too pleased with the earnings they garnered through the fund in the United States. It's not surprising, considering that TikTok offers a considerably lower amount for every thousand views compared to what can be earned on YouTube. On Google's video platform, one can make around €2.70 for every 1,000 views. This difference in compensation rates has sparked a significant debate among creators about the profitability and perceived value of their contributions on each platform.
Creativity Program Beta
The Creativity Program Beta is a revolutionary monetization tool that provides content creators the opportunity to earn up to 20 times more than the old and dull Creator Fund.
While the launch date for the Creativity Program Beta in countries like Spain is yet to be confirmed, this exciting tool has been in action since December of last year in the United States and the United Kingdom.
According to the platform, this upcoming tool is designed for the most ambitious content creators, those who aim to produce high-quality videos exceeding one minute in duration. With the Beta version of the Creativity Program, you'll have the chance to earn rewards as you unleash your creativity and publish more extensive video content.
To join the program, you must meet the following requirements:
- Have an account based in the United States.
- Be at least 18 years old.
- Have a minimum of 10,000 followers.
- Obtain at least 100,000 video views in the last 30 days.
Other Alternatives to the Creator Fund for Monetizing on TikTok
With the closure of TikTok's Creator Fund, the company bids farewell with the promise to continue fostering this ecosystem through constant innovation and unwavering support from its community. TikTok will persist in devising new strategies to reward and acknowledge content creators, showcasing its dedication and determination to nurture talent within the platform. Meanwhile, alternative opportunities for monetization on TikTok include:-
TikTok Creator Marketplace: The official platform for collaboration between brands and video creators, where creative minds come together to produce high-quality content.
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Series: TikTok's "Series" feature provides creators with the chance to share a collection of premium content for which they can receive compensation. Each "Series" may consist of up to 80 videos, ranging from 30 seconds to 20 minutes each. Viewers can unlock exclusive content by purchasing access to a TikTok Series, creating a unique and thrilling experience for both creators and audiences.
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Gifts: This feature allows your followers to express reactions and gratitude for your content. By activating this feature, you can earn Diamonds on TikTok – an exciting way for your audience to show support and recognition for your talent.
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Tips: If your audience finds your content worthy of appreciation, they have the option to send tips directly to your profile as a gesture of gratitude. As a creator, you receive 100% of the tip amount, although there may be a commission from TikTok's payment service.
Songs No Longer Allowed on TikTok
But wait, where did the music go?
Millions of videos fell silent this Wednesday, and it wasn't due to a digital blackout but because Universal Music said, "That's it."
Universal, the behemoth of all record labels, holder of hits from Taylor Swift, Harry Styles, Sting, Justin Bieber, Bad Bunny, and many other major artists, has decided to bid farewell to TikTok.
The contract with Universal concluded amidst the chaos of AI-generated music, using original voices and melodies to create new compositions, the lack of commitment in combating harmful content, and discrepancies regarding artist compensation. This record label claims that TikTok contributes merely 1% to their revenues. Despite being a global music platform, the payments it offers don't align with the true value of the works, representing only a fraction of what platforms like Spotify can provide.
But TikTok isn't sitting idly by. The platform has risen to defend its business model, emphasizing the promotional value it offers to artists. TikTok argues that Universal prioritizes greed over the well-being of artists, depriving them of their extensive user base.
Artists' stance amid this controversy is varied and complex. Some may support the defense of their rights in this conflict, while others heavily rely on their visibility and connection with the young audience on digital platforms like TikTok. Feid and Karol G serve as clear examples, opting for an innovative strategy to maintain communication with their followers through their songs, avoiding any potential penalties in the process.
In a creative and ingenious manner, seizing a unique opportunity, these talented Colombian artists shared alternative versions of their songs on their official profiles. In doing so, they cleverly challenged the restrictions imposed by Universal Music.
TikTok Withdraws Access to Some Creative Center Features
TikTok has decided to shake things up with some features in the Creative Center. Yes, that wonderful tool that helped us discover the hottest trends within the platform.
This decision comes as a group of researchers made "improper use" of the Creative Center, delving into sensitive topics related to the Chinese government. To avoid misunderstandings, TikTok has chosen to make some adjustments. Now, the search option has been disabled, and some intriguing links on sensitive topics such as war or U.S. politics have been removed.
The social media platform, owned by the Chinese company ByteDance, acknowledged changes in the Creative Center to prevent misunderstandings among users and organizations using the search tool, aiming to maintain a safe community.
