TikTok Announces New Monetisation Tool for Content Creators To Make More Money, Sets Criteria

• TikTok has released a new program for content creators on the social platform to make more money
• The company said the new model would allow hardworking and creative creators to make more money automatically
• There are criteria to be met for TikTok creators who wish to benefit from the new reward system

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

TikTok, the popular short video social media platform, has announced its latest monetization tool to reward content creators and help them earn more revenue.

Bytedance, the parent company of TikTok, announced that creators will be rewarded under the new monetization program according to four main criteria: originality, play duration, search relevance, and audience engagement.

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TikTok reward program

TikTok, in a statement posted on its website, expressed its goal to inspire creators along their journey to increase earnings and access more opportunities by sharing longer content.

TikTok stressed that the new formula would also automatically reward creators for their account's ad value, which would be determined by their community's ad watch time.

Part of the post reads:

We are thrilled to announce that the creativity program has exited its beta phase. With the official launch of the Creator Rewards Program, we eagerly anticipate further collaboration with our creators, supporting them in reaching their maximum potential.

"The Creator Rewards Program will persist in rewarding high-quality, original content exceeding one minute in length, employing an optimized rewards algorithm centered around four core metrics: originality, play duration, search relevance, and audience engagement."

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TikTok clarified that originality pertains to content of high quality that is distinct to the creator, presenting their perspective or creative thinking in a manner that connects with their audience.

It added:

"Play duration encompasses both watch time and completion rate. The updated formula prioritizes accounts with clear and engaging content over those with an abundance of videos, ensuring fair rewards distribution.

"Audience engagement comprises likes, comments, and shares, all of which enhance the value of creators' content within the program"

TikTok has also introduced a new search Insights tool, which provides data on trending search topics and helps users create content that meets TikTok's requirements for "search value."

It explained:

"Search value is a metric assigned to content based on popular search terms. Content that aligns with in-demand search topics increases its value for searchers.

“To find inspiration for content that resonates with audiences on TikTok, creators can use the recently announced Creator Search Insights tool to better understand what topics are popular in Search."

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TikTok criteria for rewards

To be eligible for the Creator Rewards Program, creators must be at least 18 years old, have at least 10,000 followers with a minimum of 100,000 views in the last 30 days, and have a good-standing personal account where the program is available.

YouTube unveils new revenue-sharing formula

Earlier, Legit.ng reported that a newly revised revenue-sharing formula for content creators will create more millionaires.

Creators across the globe, including Nigeria, will begin to earn more from the video-sharing platform after it announced the commencement of a new payment model on shorts.

The platform stated that it would generate revenue by monetizing Shorts creators based on their percentage of total Shorts views in the creator's pool.

Source: Legit.ng