TikTok To Shut Down USD 1 Billion Creator Fund From December 16: Report

San Francisco, November 7: Chinese short-video making app TikTok has shut down its $1 billion creator fund from December 16. Creators in the US, UK, Germany and France will no longer be able to monetise their work through the original fund, a TikTok spokesperson told The Verge.

The TikTok creators’ community in Italy and Spain aren’t affected by the development. The TikTok’s original fund was launched in 2023 with a three-year commitment. Creators who are part of the fund will be able to roll over to the Creativity Programme, the report mentioned. OpenAI CEO Sam Altman Launches New 'GPT-4 Turbo' as ChatGPT Reaches 100 Million Weekly Active Users.

However, influencers and other content creators cribbed about low payouts, “making it impossible to earn a living through the creator fund alone”. In May, the Chinese short-form video platform opened its revamped creator fund, called the "Creativity Programme Beta", to all eligible creators in the US.

Creators required at least 10,000 followers and 1,00,000 views in the last 30 days to join the programme. The company initially began testing the new programme with select creators in February. According to the company, the new programme was designed to generate higher revenue and unlock more real-world opportunities for creators. Palo Alto Networks Acquires Israel-Based Talon Cyber Security Reportedly for USD 625 Million.

"Designed to help creators foster their creativity, generate higher revenue potential and unlock more exciting, real-world opportunities, the Creativity Program Beta is the latest addition to our range of monetisation tools that support creators of all levels in being rewarded," TikTok had said. To begin earning, creators must create and publish high-quality, original content longer than one minute, the company said.