Six months after launching the beta version of its reimagined creator fund in the U.S., TikTok is expanding the program to all creators living in Brazil, France, Germany, Japan, Korea, and the United Kingdom.
TikTok's original creator fund launched in 2020 and received widespread criticism from creators who didn't feel like they were being paid enough more per video post.
The company has said this new fund features a reworked formula built to offer a higher average gross revenue for qualified video views, with the potential to earn up to 20 times the amount offered by the previous fund.
To be eligible for the program, creators must be at least 18 years of age and have at least 10,000 followers and 100,000 views accumulated over the past 30 days.
Creators must also upload videos longer than one minute –– a move that points to the platform's ongoing competition with long-form video leader YouTube.
TikTok will likely end the previous creator fund after this new version leaves the beta phase.The new creator fund is just one piece of the company's strategy to attract more creators to its platform.
As the company continues to push its e-commerce offerings including Wednesday's expansion of TikTok Shop to all U.S. retailers, creators may see more opportunities to enter paid brand partnerships, build a larger following and make use of TikTok's additional monetization tools, like Live subscriptions, tips, gifts and TikTok Pulse.
The company has also focused recently on introducing new private messaging and social networking features in order to retain more user engagement within the app. More creators, however, will also help with this.
In theory, a larger number of creators equals more viral content and, in return, more eyes on the platform.