It has become common for social media platforms to establish Creator Funds in order to financially incentivize content creators to produce content on their platforms and attract more regular users to follow these content creators.
However, funds are limited and TikTok recently announced the closure of its Creator Fund, which was initially set at $1 billion and started in 2020, with its effects ceasing on December 16, 2023.
This announcement may not affect TikTok creators in Thailand as the original version of the fund only provided financial support to creators in the United States, United Kingdom, Germany, and France.
Critics argue that funds or programs of this nature do not actually pay creators a substantial amount. For instance, they may receive millions of views, but only receive a few dollars in payment. Furthermore, TikTok has not disclosed whether they have fully distributed the promised $1 billion.
TikTok itself has introduced a new program called the Creativity Program, which replaces the Creator Fund. However, this program is limited to creators in the United States and has different payment conditions. It is specifically designed for longer videos (over 1 minute) and includes additional criteria for video selection.
TLDR: TikTok is discontinuing its $1 billion Creator Fund, which financially supported content creators on its platform. The closure of the fund will not affect TikTok creators in Thailand, as it was only available to creators in the US, UK, Germany, and France. Critics argue that funds like these do not pay creators a sufficient amount. TikTok has replaced the Creator Fund with the Creativity Program, limited to US creators, and includes different payment conditions and additional criteria for video selection.