TikTok to Empower Creators with Cutting-Edge Monetization Features
TikTok has been in the headlines for quite some time now. Whether due to TikTok bans happening across USA and Canada, or because of a TikTok trend gone wrong, the app encounters media coverage every now and then. Despite facing all this scrutiny and diplomatic pressures, TikTok continues to establish itself as the top social media platform. And its success can be attributed to the platform’s constant feature updates that make TikTok even more creator-friendly.
In the last quarter (January - March), TikTok was all about improving user experience, strengthening brand-creator partnerships, and enhancing targeted advertising. But this quarter (April - June), it shifted its focus towards creator monetization, enhancing creator marketing on TikTok. Let’s explore each of TikTok's social media updates in the last three months.
1. Series Expansion
TikTok has expanded its Series feature to even more creators. Previously available to only select creators, Series is now available for creators in multiple countries listed by TikTok. Launched in March 2023, the Series feature allows creators to monetize premium content through in-video purchases.
2. Content Monetization
TikTok has introduced tons of other features to enable content monetization on its platform by offering rewards and payouts.
A. Effect Creator Rewards
Effect House creators can now collect rewards for their designs. The new social media update is an expansion of the Effect House Beta update that allows designers, developers, and creators to create AR effects for TikTok. With Effect Creator Rewards, effect creators can earn rewards every time their effects are used, provided they fulfill the terms and conditions to create videos.
B. Creativity Program Beta
The Creativity Program Beta offers more content insights, rewards, and video performance metrics, helping creators to craft engaging content. Creators can also monetize their content and earn higher average gross revenue based on qualified video views.
3. Artists Impact Program
Launched in May 2023, the Artist Impact Program is an extension of the Commercial Music Library offered by TikTok. The library allows creators to use royalty-free music for branded content. And to expand its scope, it allows artists to monetize their music.
For more TikTok updates and social media updates, access our latest report! The Influencer Marketing Spring 2023 Report discusses the top trends in the influencer marketing industry, latest social media feature updates, and the top influencers and brands across 9 countries.