TikTok has set new records in the social media space. Not only did the app quickly rise to a billion users, but it did so in just five years. Considering it took Facebook almost nine years to do this, that’s a remarkable feat.
The driving force behind TikTok’s success is its user creators. From chefs to photographers, comedians to fitness fanatics, TikTok provides people with a unique platform for entertainment and information. Many avid TikTokers go on to become influencers who can make a living through product endorsements and video viewing.
Are you looking to turn your passion for TikTok into a career? Let’s take a look at how people make money on the platform and how much TikTok pays creators.
What is the Douyin Creator Fund?
TikTok launched the Creators Fund to reward their creator community for making money “by doing what they love and turning their passion into a livelihood.” To be eligible, creators need to have 10,000 followers and 100,000 video views in the past 30 days.
In the US, the fund has a start-up capital of $200 million, while £231,000 is earmarked for European TikTok creators. Over the next three years, the fund will grow to $2 billion globally.
The money a creator earns will be based on a number of factors and will vary from day to day depending on the number of videos posted. Creators who get access to the fund will also see volatility in earnings because TikTok’s performance is dynamic, meaning funds will ebb and flow.
The great thing about the Creator Fund is that there is no income cap or limit on the number of creators who can join. So it’s a level playing field for successful TikTokers with a lot of money on the table.
How do you join the TikTok Creators Fund?
The fund launched in the US in 2020 and is spreading globally. In Europe, currently, eligible countries include the UK, Germany, France, Italy, and Spain.
Apps for TikTokers must meet the following criteria:
- in one of the designated countries
- 18 years or older
- At least 10,000 followers
- At least 100,000 video views in the past 30 days
- Have an account that complies with the TikTok Community Guidelines and Terms of Service
If you are eligible, go to your pro/creator account on TikTok to apply.
Is it worth joining TikTok’s creator fund?
The Creators Fund is a great opportunity for TikTokers to capitalize on their success on social channel. It offers a way to use the popularity of your videos to start an exciting new career as a TikTok influencer. But there is also the opposite.
Let’s take a look at the pros and cons of joining a fund:
advantage:
- A chance to make a living with your passion!
- Get paid for watching videos
- The honor of standing out in the TikTok creator market as a recipient of the TikTok Creators Fund
- Endorsements and sponsorship deals behind the fund – think Josh Richards and his deals with Reebok and HouseParty
- A chance to become a TikTok influencer
shortcoming:
- You need to constantly create new content
- Revenue fluctuates based on video performance
- The pressure to please and maintain a fan base
- Since joining the program, there have been reports of declining views and meager earnings
Who are the highest paid TikTok creators?
Many TikTokers have managed to land lucrative careers on the platform. Their unique content attracts millions of followers, so they are very attractive to brands looking to advertise on TikTok to reach a younger demographic. So, who are the biggest earners and how did they get there?
Addison Ray Easterling
No. 1 Addison Rae has nearly 65 million followers and has made $5 million from her videos on TikTok. She started out showing off her dance moves and now has deals with Daniel Wellington and American Eagle and makeup line Item Beauty.
Charlie and Dixie Damario
Sisters Charli and Dixie have more than 130 million followers and estimated annual revenue of nearly $7 million. Originally from Connecticut, they moved to Los Angeles and created dance and music videos. They have joint agreements with the brands Hollister and Morphe.
Michael Le
With his distinctive pink hair and dance moves, Michael Le has 50.5 million followers and estimated annual revenue of $1.2 million. He formed a creator collective with other TikTok influencers and struck a deal with Bang energy drinks.
baby ariel
Baby Ariel was initially active on Musical.ly, the app TikTok bought for its music library, with her lip-synced videos. She has been named an influential figure by Time magazine and Forbes for her anti-bullying and internet trolling campaigns. With over 35 million followers, she can claim $32,000 per TikTok post.
We’ve rounded up some of the most frequently asked questions about the TikTok Creators Fund.
Do you get paid for views on TikTok?
Yes, you get paid for viewing TikTok content.
TikTok has not disclosed how much they are paying for views through the fund, but influencers who have joined the fund have disclosed how much they earn. Watch a thousand times on TikTok and you’ll get paid 2 to 4 cents.
How many followers do you need to be verified on TikTok?
There is no application process to get verified, which is usually reserved for superstar influencers or celebrities. Verified creator accounts have at least 10,000 followers, but exactly how TikTok grants verified status is a closely guarded secret.
However, it never hurts to gain more followers, some easy ways are:
- Use hashtags effectively
- Choose your niche and stick to it
- Post regularly
- Take advantage of TikTok trends
- Know when to publish (date and time)
- Collaborate with other TikTokers
- Ask your audience questions to increase engagement
- Participate in the challenge
Is it easier to make money from TikTok or YouTube?
YouTube currently pays creators to advertise their content as well as revenue from premium subscribers. This is done through an AdSense account and is based on a share of ad revenue. In contrast, TikTok does not currently adopt a revenue-sharing model, but has set up this creator fund to allow TikTok to make money from video viewing.
If you want to know what your TikTok account is worth, check out this TikTok money calculator.
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