TikTok announces $200 million fund for creators on the platform

By Digit NewsDesk | Published on 24 Jul 2020
TikTok announces $200 million fund for creators on the platform
HIGHLIGHTS

Amidst the India ban, TikTok has just announced a $200 million 'creator fund'

The fund will start in August for US residents only

Users must be at least 18 years old to apply

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Just as TikTok and other apps have been reeling from the ban in India, the social media giant has just announced a $200 million (Rs 14.99 crores approx converted) fund for US creators on its platform. This “creator fund” In a statement to the media, Vanessa Pappas, general manager, TikTok, said, “help support ambitious creators who are seeking opportunities to foster a livelihood through their innovative content.”. As of now, the fund is only applicable to creators in the US but who knows, in an effort to distance itself from the Chinese, TikTok could have something planned for India in the future. 

TikTok announced $200 million fund for creators on the platform

Starting in August 2020, the fund will be open to US creators who must be at least 18 years old to apply. Users will also have to already have a working account that posts regularly under TikTok’s guidelines. The company has said that applicants will also need to have a baseline of followers but has not confirmed what that baseline is. Vanessa Pappas also added ,”In a relatively short time, TikTok has grown to become a source of income and opportunity for creators and their families -- and we couldn't be more encouraged by their success. As our community continues to flourish, we're committed to fostering even more ways for our creators to earn livelihoods by inspiring joy and creativity”

In other TikTok news, scammers are now using a fake TikTok Pro app to steal user data in India. You can stay safe and read up on the scam, right here. A lot of companies have also launched short video platforms in the wake of the TikTok ban, such as Gaana, Instagram and more. 

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Digit NewsDesk

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