TikTok is paying a growing number of music creators through its licensing deals – see this week’s agreements with Believe and the NMPA for the latest on that.
Now the social app is launching a $200m fund in the US for ‘creators’ more generally – as in people creating videos on its platform.
“We’re launching the TikTok Creator Fund to encourage those who dream of using their voices and creativity to spark inspirational careers,” explained its announcement.
“The US fund will start with $200 million to help support ambitious creators who are seeking opportunities to foster a livelihood through their innovative content. The fund will be distributed over the coming year and is expected to grow over that time.”
The fund opens in August, and creators older than 18 who “meet a baseline for followers” will be able to apply. With TikTok’s Chinese ownership under heavy scrutiny in the US from politicians at the moment, the promise of $200m to fund American creators is clearly carefully timed.
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