TikTok just keeps on expanding its suite of creator monetization tools with the addition of video tipping and virtual gifts for regular uploads, on top of live-streams within the app. Just to clarify things, live tipping and sending digital gifts have been available to a select few users via its ‘Creator Next’ program since last year. This update essentially takes that benefit and applies it to regular TikTok videos, greatly augmenting the ability of creators to directly monetize their content.
Just A Tip
Once again, Matt Navarra (via Dan Schenker) hassw pulled through and has supplied all of us with screenshots that depict the eligibility factors for the Creator Next program. Users will need to have at least 1,000 followers, while also needing to have generated at least 1,000 views within the last 30 days. Seems doable enough; it’s really harder to gain followers than to generate views. However, TikTok does note that these requirements vary depending on the region – TechCrunch reports that requirements can jump as high as needing to have 100k followers in some cases.
TikTok explains:
“The new Tips feature allows people to directly show gratitude to creators for their content, much like recognizing exceptional service or giving a standing ovation. As is standard for tipping in person, with Tips creators will receive 100% of the tip value.”
Tip payments will be processed by and through Stripe, which is a mobile tipping payment app, and will require creators to sign-up in order to manage their tip earnings from TikTok.
TikTok goes on further:
“With Video Gifts, also available today, creators can now collect Diamonds not only by going LIVE but also by posting videos. This also gives people an all-new way to interact and engage with content they love.”
The expansion of video gifting also expands the capacity of creators to generate real money from posting without having to go live, which is something similar to YouTube’s ad revenue system, and definitely opens new doors for many TikTok creators.
Adding even further, TikTok is said to also be lowering the threshold for those who can list their profiles in its Creator Marketplace platform. TikTok’s Creator Marketplace is a great collaborative tool and allows businesses to easily find relevant TikTok partners for in-app campaigns.
Up until now, creators were required to have 100k followers to qualify for these listings, but TikTok will be toning that down to 10k, which is leagues more manageable, especially for newer and budding creators. The lowering of the qualifying follower count also presents more opportunities for both creators and brands, allowing more opportunity to participate for smaller players.
The Wrap
So far, these are the latest among TikTok’s initiatives to provide comparable monetization opportunities to retain top creators as well as attract new ones. With TikTok out to improve it’s commerce and transaction tools, it also looks to make itself more appealing to brands and businesses, which presents more opportunities for TikTok to bolster its economic performance and growth.
While it’s unlikely that TikTok will be able to compete with the likes of YouTube on a ‘pound-per-pound’ basis, it’s continued growth offers more opportunities with respect to emerging trends. Likewise, its branding as an industry leader in terms of short-form content won’t likely be overtaken anytime soon. On this front, the popularity and viability of tipping and digital gifting is highly variable, but nonetheless further incentivizes success on TikTok, which is sometimes enough of a driver for creators and brands to really perform.
Subscribe to our ‘Bottoms Up!’ Newsletter. Get the latest social media news, strategies, updates and trends to take your business to the highest level.
Sources