ByteDance’s TikTok on July 23 announced a USD 200 million US-based fund, dubbed “TikTok Creator Fund”, to supplement creators’ earnings, as the company increasingly faces headwinds from US regulators over questions about data handling.
The funds, scheduled to be distributed over the coming years, is intended to “encourage those who dream of using their voice and creativity to spark inspirational careers,” according to a blog posted on TikTok official website by TikTok US’s general manager, Vanessa Pappas, who is Youtube’s former global head.
Applications will begin in August, and eligible users must be 18 or older, meet a yet-undisclosed minimum number of followers, and consistently post original content in line with TikTok’s community guidelines.
“As our community continues to flourish, we’re committed to fostering even more ways for our creators to earn livelihoods by inspiring joy and creativity,” reads the blog.
In addition to the newly-established fund, TikTok also provides several ways to help creators earn money via the app—a livestreaming function, a USD 50 million Creative Learning Fund for teachers, and TikTok Creator Marketplace which helps connect brands and advertisers with creators.
The fund comes at a time when the rapidly-growing app has been embroiled in the deteriorating Sino-US relationship.
TikTok’s parent, Beijing-based ByteDance, has taken a slew of measures to separate the app from Chinese operations and oversight. ByteDance built upa technical wall between TikTok and its Chinese twin Douyin,hired American Kevin Mayer as new CEO, promised toadd 10,000 more staff in the US, released a transparency report, and plans to set up separate headquarters outside of China.
However, the Trump administration is still considering a ban on the app, while, earlier this week, rumors began circulating that a group of US investors wants to buy the majority of TikTok from its Chinese owner.
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