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Some of the biggest names in the creative economy have a message for TikTok: It’s time to share the wealth.
The app’s skyrocketing popularity has boosted many social media personalities in recent years, attracting millions of fans and sometimes billions of views. But some of those creators are now saying the way TikTok is compensating for them – via The Makers Funda money pool that is distributed based on the creator’s share of the platform’s overall views, is outdated.
“Literally, when TikTok becomes more successful, TikTokers become less successful,” said Hank Green in a YouTube video posted Thursday. His video has been viewed nearly half a million times since Tuesday.
Green, who was an early YouTube star and an authority on internet culture, has a following of 6.3 million followers on TikTok. He said that instead of working in the best interests of the creators, TikTok’s current monetization tool is in favor of TikTok’s profits.
Green said he’s been tracking his own earnings on TikTok and has seen the amount he earn per view fall over the past year. He said he currently earns about 2.5 cents per 1000 views.
The problem, Green said, is that unlike YouTube’s affiliate program, which gives its creators a discount on its earnings, TikTok’s creators fund comes from a finite pool of money the platform has allocated to its creators. So as TikTok has grown as a platform, there is less money from the finite pool to go around.
Green did not immediately respond to a request for comment from NBC News.
TikTok’s makers fund has launched at $200 million and is expected to “grow to more than $1 billion in the US over the next 3 years, and more than double that globally,” TikTok said in a July 2020 statement. blog post about the fund. ByteDance, TikTok’s parent company, revenue grew 70 percent year-over-year in 2021 to approximately $58 billion. Reuters.
“The Creator Fund is one of the many ways that creators can make money on TikTok. We will continue to listen to and seek feedback from our community of creators and develop our features to improve the experience for those on the show,” a TikTok spokesperson said in an email to NBC News.
After Green’s video started circulating, other creators noted their earnings from the platform.
Safwan AhmedMia, a British tech TikToker, tweeted that he made just over $150 for 25 million views. YouTube and TikTok star Mr. Beast replied to AhmedMia, saying that he made an estimated one billion views, just under $15,000.
Mae Karwowski, CEO and founder of Clear, an influencer marketing agency, said TikTok’s creators fund has been more of a perk for creators than a way for them to earn a living income on the platform.
“It’s definitely not something you can count on — getting the same amount every month in a predictable way,” Karwowski said of the fund.
Karwowski said creators should have a variety of revenue streams, whether that be things like branded deals, affiliate marketing, or merchandise.
She said that for creators, branded deals are usually the most lucrative form of income and can pay extremely well.
“There are so many different ways to make money as a creator once you build an audience, but really think of a maker fund as a nice perk rather than this going to pay my rent… is the way to look at it.”
TikTok’s Creator Fund landing page says the fund is the “way to celebrate and support creators for their dedication, ingenuity and spirit”.
Creators are eligible if they are 18 years of age or older, legally resident in the United States, have 10,000 followers and 100,000 video views in the past 30 days, and post original content that adheres to the Community Guidelines.
The rules also state that the followers and opinions must be “authentic”.
In addition to the US, the creators’ fund is available in the UK, Germany, Italy, France and Spain.
The platform says that several factors determine how much a creator earns, including video views and video engagement. However, the platform does not specify how much a view or number of views is worth, nor what type of engagement will be reimbursed.
As brands spend a large amount of advertising dollars on TikTok and the platform’s popularity continues to grow, Karwowski said it would be smart if the app worked on a YouTube-style monetization model in the future.
“I could see that this is a really smart move to keep creators happy, but also to keep them on the platform,” she said.
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