TikTok has unveiled a hub of new and existing tools that will allow creators on the wildly-popular video-sharing platform to exploit additional monetization opportunities as they grow their followings.
Announced Wednesday (Dec. 1) under the name “Creator Next,” the toolset is open to eligible users, whom TikTok defines as those 18 years or older who have met the minimum follower requirements (which vary by region), have at least 1,000 video views, have posted three videos in the past month and have an account in good standing under TikTok’s community guidelines.
Headlining the new toolset is Tips, which allows TikTok creators to receive tips directly from their followers while keeping 100% of the money, marking the first direct-tipping function on the platform. Payments made through Tips will be processed by Stripe, which includes a dashboard through which creators can manage their earnings.
TikTok’s Creator Next will also include LIVE Gifts, an existing tool that generates tips based on the amount of engagement received by a creator’s livestreams. Additionally, LIVE Gifts will live alongside a brand-new tool, Video Gifts, that allows creators to receive tips based on engagement with their non-live videos for the first time. LIVE and Video Gifts tips are paid out with “Diamonds” that creators can then redeem for money.
The new toolkit additionally includes Creator Marketplace — the official space on TikTok for brands and creators to curate collaborations on the app — which is now being opened up to users with at least 10,000 followers. The tool allows brands and agencies to browse creators from 24 countries and reach out to them directly about partnerships.
Lastly, Creator Next will include the previously-introduced Creator Fund, which pays creators for their content based on a number of different factors, including video views and engagement.
Tipping is not a new phenomenon among social media platforms and the music industry – SoundCloud and Spotify have recently introduced similar models for fans to tip artists directly, and the practice is much more common in Asian markets. Live streaming platform Twitch is popularly known for its donations system in which fans can tip creators during their stream that they often acknowledge in real time.
TikTok has seen an immense rise in its user base in recent years, having reached the 1 billion-user mark in late September. Prominent artists like Taylor Swift, Lady Gaga, U2 and Dolly Parton and have also joined the platform in recent months.