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TikTok’s $1 billion creator fund is closing

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TikTok is set to discontinue its $1 billion creator fund, with the shutdown scheduled for December 16th of this year, as per the company’s recent announcement. This change will impact creators in the US, UK, Germany, and France, with the exception of Italy and Spain, who will no longer have the option to monetize their content through the fund.

The TikTok creator fund was initially introduced in 2020, with the promise of distributing $1 billion over a three-year period to content creators. However, creators soon expressed dissatisfaction with the relatively low payouts they received, even for content with millions of views. This left them struggling to earn a substantial income from their TikTok endeavors.

The company has not officially confirmed whether it successfully paid out the entire $1 billion as initially pledged to creators. More recently, TikTok introduced an alternative monetization method, the Creativity Program, which offered the potential for higher payouts. This new fund allowed creators to produce longer videos and receive payouts based on viewer engagement and metrics. According to TikTok spokesperson Maria Jung, creators participating in the Creativity Program earned 20 times more compared to the original fund.

With the forthcoming closure of the original Creator Program, content creators now have the option to transition to the Creativity Program, offering them the prospect of more substantial earnings for their TikTok content. This change reflects TikTok’s commitment to supporting and rewarding its diverse creator community.

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