TikTok launches $200 mn 'creator fund'

26 Jul 2020 10:33 AM
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TikTok unveiled strategies for a good $200 million "creator fund" to include content from emerging social media personalities to the fast-growing video-sharing app.

The brand new US fund will "support support ambitious creators who are seeking opportunities to foster a livelihood through their impressive content," said Vanessa Pappas, general manager of TikTok US.

The move comes with TikTok seeing strong momentum, especially among young smartphone users, even while US lawmakers and officials intensify warnings about its links to China.

Pappas said that with the fund, "our creators can realize additional earnings that support incentive the care and dedication they placed into creatively connecting with a great target audience that's inspired by their ideas."

The fund will be open in August to US people 18 years or older who've a platform following and post original content consistent with its community guidelines.

The move could help crank up interest in TikTok, which includes seen its user bottom grow to around one billion.

Until now, TikTok has been using the style of Facebook-owned Instagram, which allows creators to create sponsored videos but without direct remuneration from the platform.

TikTok said this week it plans to add some 10,000 US jobs over the next three years, since it battles complaints above its ties to China.

A good unit of China-based keeping ByteDance, TikTok has been banned in India and US officials include said these were looking at practical actions against the app.

A bill passed by the united states Residence of Representatives would bar federal employees from using the application on government-issued devices, over considerations that maybe it's used for spying.

Amid reports of a practical spinoff or buyout of the app, TikTok has stated the company's structure is under review.