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TIKTOK LAUNCHES $200 MILLION CREATOR FUND

Published August 3, 2020
Published August 3, 2020
via TikTok

TikTok crossed the 2 billion global download threshold in April, according to the analytics platform Sensor Tower. Last year, TikTok said it had 26 million users in the US and employs about 1,400 people in the US. Recently the platform, owned by Chinese internet company ByteDance, has been in the US government’s crosshairs over concerns on how the company handles user data and its ties to the Chinese government.

In what appears to be a response, TikToK has been making move to present a friendlier face to the US. It has pledged to add 10,000 more staff in the US, and there are rumors that US investors are considering buying a majority stake in the TikTok business back from ByteDance to establish control of the company out of China’s hands.

The business also announced the launch of a US fund that will start with $200 million to help support ambitious creators who are seeking opportunities to foster a livelihood through the creation of innovative content. The fund will be distributed over the coming year and is expected to grow over that time.

The addition of the TikTok Creator Fund builds upon an ongoing commitment to support creators through monetary opportunities including:

  • TikTok’s $50MM Creative Learning Fund, which introduces emerging teachers to the platform and has benefitted over 1,000 US creators who’ve been affected by the global pandemic.
  • TikTok LIVE streams, which bring earnings to hundreds of thousands of US creators over the age of 18 who host live programs for their audience.
  • The TikTok Creator Marketplace, which helps brands discover and partner with innovative creators to collaborate on paid campaigns that drive awareness and attract new customers.

To be eligible, users must be 18 years or older, meet a baseline for followers, and consistently post original content in line with the company’s Community Guidelines. The TikTok Creator Fund will open to applications from US creators beginning in August.

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