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· Posted on
February 21, 2024

TikTok's $6 Million investment to pay for your dog-face filter maker

TikTok announced a $6 million fund that's going towards paying creators of filters and visual effects on their platform.

What's the key learning?

  • The creator of the TikTok effect needs to be used in over 500,000 videos in 90 days as a baseline to get paid with $1,050.
  • In the world of content creation, social media platforms need the creators as much as the creators need the platform.
  • The filter-effect creators are the glue that keeps many of the creators on the platform but they have traditionally been cut out of the monetisation.

👉 Background: TikTok is the video-based social media platform with over 1 billion monthly active users. Its parent company, ByteDance, is one of the most valuable privately held tech companies in the world.

👉 What happened: Now, TikTok announced a $6 million fund that's going towards paying creators of filters and visual effects on their platform.

  • A creator's effect needs to be used in over 500,000 videos in 90 days as a baseline to get paid with $1,050.

👉 What else: This fund is a step in the right direction for TikTok, but it might not be enough for creators to feel loyal to the platform.

What's the key learning?

💡In the world of content creation, social media platforms need the creators as much as the creators need the platform. While content creators need a place to reach their audience and engage with them, social media platforms need creators who build and attract a dedicated fanbase.

💡The filter-effect creators are the glue that keeps many of the creators on the platform but they have traditionally been cut out of the monetisation.

💡For example, the bold glamour filter was used in more than 8.6 million videos in a matter of weeks. But with a measly $6 million in the creator effects fund, it's unclear whether it'll give the effects creators bang for their buck.

‍

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All information contained in the Flux app, www.flux.finance, www.joinflux.com, app.flux.finance and any podcast of Flux Media Pty Ltd (ABN 27 639 804 345) is for education and entertainment purposes only. It is not intended as a substitute for professional financial, legal or tax advice. Flux Media Pty Ltd is the owner of the registered trade mark, 'What the Flux'. While we do our best to provide accurate information on the podcast, we accept no responsibility for any inaccuracies that may be communicated.
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