Breaking News: TikTok’s $1 Billion Creator Fund to Cease Operations – Don’t Miss the Latest Update!

TikTok’s highly anticipated $1 billion creator fund is set to conclude on December 16th, 2023, according to a recent announcement made by the company.

As per TikTok spokesperson Maria Jung, creators in the US, UK, Germany, and France will no longer have the opportunity to monetize their content through the original fund. However, this change won’t affect TikTokers in Italy and Spain.

The creator fund was originally introduced in 2020 with the aim of distributing $1 billion to creators making viral content on the platform over a three-year period. However, influencers and content creators have voiced concerns regarding low payouts, sometimes earning just a few dollars despite millions of views. It remains uncertain if TikTok has fulfilled its commitment to pay out the entire $1 billion sum.

In February of this year, TikTok introduced the Creativity Program as an alternative monetization method to the original fund. The new program requires creators to produce videos longer than one minute, a departure from the app’s original focus on short clips. Instead of a fixed pool of money, earnings through the Creativity Program are now based on views and other engagement metrics. Eligible creators have been encouraged to transition to the new system, with the potential to earn up to 20 times more than what they made under the original fund.

The conclusion of TikTok’s original fund was expected, as it was designed to last for a specific three-year period. Creators from the US, UK, Germany, and France who were part of the fund will have the opportunity to transition to the Creativity Program.

Earning money on TikTok has always been unpredictable compared to platforms like YouTube or Twitch. Recognizing the issue of low payouts, YouTube has introduced ad revenue sharing on Shorts, its own TikTok competitor.