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TikTok launches Creator Next, expanding creator monetization features

TikTok launches Creator Next, expanding creator monetization features
TikTok launches Creator Next, expanding creator monetization features

Chinese social media platform, TikTok has rolled out a new feature called ‘Creator Next’ that offers a one-stop hub for all of the platform's money-making capabilities; along with a few other upgrades to its current creator tools.

TikTok acclaimed that, on top of Creator Next, it is also introducing another feature for tipping, which lets users send money straight to their favorite creators.

Supposedly, this is part of TikTok's bigger strategy to keep creators engaged to a single platform and hold them from switching to other networks that pay them, such as Facebook, Instagram, Snapchat, and YouTube.

Earlier, content creators had to acquire deals and sponsorships from outside the application and discover ways to make money directly through the app. In order to tackle this, in 2020, TikTok introduced its $200 million Creator Fund, to be distributed among the network's most famous creators.

TikTok started testing Tips as the latest revenue flow for users in October, however, the function is accessible to all creators who match TikTok's eligibility standards.

TikTok stated that users will be getting 100% of all tips, which will be processed via the payment processing platform, Stripe, with tippers paying a minimal cost.

TikTok also revealed that its Live Gifts function, which enables users to gift diamonds, a virtual currency that can be swapped for cash, at the time of live streams, is being expanded.

The Creator Fund, Video Gifts, Live Gifts, Creator Marketplace, and Tips will all be available with the help of the Creator Next interface.

To use Creator Next, TikTok said that users must ‘meet minimum following requirements,’ which could vary by region, as well as 1,000 views per video in the past 30 days.

Apparently, the feature is available in the UK, US, Italy, Germany, Spain, and France, along with support for Australia and Canada rolling out in the coming months.

Source credit: https://www.theverge.com/2021/12/1/22811973/tiktok-creator-next-monetization-tips-video-gifts

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Sunil Jha

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