The platform already allows creators to accept virtual monetary gifts from followers during TikTok LIVE videos, but the new features will allow creators to accept payments and donations when they’re not live-streaming via tips and video gifts.
All the extant and newly-added monetisation features will be amalgamated into the platform’s new Creator Next portal.
The platform is also widening access to its Creator Marketplace, which helps match creators with brands who can sponsor content in exchange for recommendation videos. Now TikTok creators who have at least 10,000 followers can sign up, whereas before the bar was set at 100,000 followers.
Furthermore, the Creator Next website explains that only those who have at least 1,000 video views and at least 3 posts over the past 30 days will be eligible to participate.
Creators are to receive 100% of tips, but tippers have to pay a processing fee to Stripe – TikTok’s payment provider to cover service fees.
These new features are part of the company’s strategy to compete with other social media competitors such as Instagram, Facebook and YouTube, who have also provided means for creators to generate income from their content.
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