TikTok has unveiled a series of new tools that will enable artists and creators to monetise their content moving forward.
‘Creator Next’ is a new toolset that features the platform’s first tipping function, allowing artists to receive tips directly from followers while keeping the entire amount of money sent to them.
In order to receive payments, creators will need to sign up to Stripe – an Irish-American financial company – through which they will be able to manage their earnings in a simple dashboard.
‘Creator Next’ also includes a brand new function titled ‘Video Gifts’ – which allows creators to receive tips based on engagement with their non-live videos – and the existing ‘Live Gifts’ tool, which works in the same way for live streams.
To be eligible for ‘Creator Next’, creators must be 18 or older, meet minimum follower requirements (which can differ depending on region), have at least 1,000 video views in the last 30 days, and have at least three posts in the last 30 days.
The new toolset also includes the ‘TikTok Creator Marketplace’, an official hub for brands and creators to collaborate – and the previously-introduced ‘Creator Fund’, which pays TikTok creators for their content dependent on various factors.
Since the global shutdown at the hands of the coronavirus pandemic, virtual tipping has become a big source of income for artists and content creators, having been introduced on platforms such as Spotify, SoundCloud, Instagram, Facebook, Twitter and Encore Musicians.
‘Creator Next’ arrives a few months after TikTok hit the one billion user mark in late September. A number of high-profile artists have joined the platform in recent months, including U2, Led Zeppelin, ABBA, and Taylor Swift.
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