The Chinese company (ByteDance), the developer of the social networking application (TikTok), has launched a new profit-sharing system with content makers. The new program is called the Creativity Program and promises higher profits than the current Creators Fund.
The new plan comes in response to complaints from content creators about the current revenue sharing system, which generates little revenue even for videos with millions of views.
The company did not disclose on its blog the amount of profits that will be awarded or distributed, and only said that the new program is designed to help content creators present their ideas and achieve higher profits. She said the program represents a new addition to the company's monetization tools for content creators of all skill levels.
TikTok confirmed that its project is still in the beta stage and US users can currently only participate via the invite system. Creators who are enrolled in the Creators Fund program can switch to the new program.
The new creative plan does not cancel the previous one, but works with it under different conditions. Joining requires more than a minute to create high-quality original content. Content creators have access to a dashboard where they can review the eligibility and earnings of their videos from the program, as well as information and statistics about the performance and views of the submitted content.
TikTok made the announcement just days after it launched its TikTok Trivia contest program, which will offer prizes of up to $500,000 to the winner. The show is broadcasted live on the platform during the last five days of every month. TikTok said the questions will be "multiple choices" covering beauty, lifestyle, music and exercise. Three days before the match, there are two live broadcasts per day of one full hour each.
The company said that the session will consist of 12 questions, with the winners sharing $30,000, and in the second round, the winners will share $70,000.