In an unexpected turn of events, TikTok announced earlier this week that the Creator Fund, the $1 billion allotment the brand had set aside to pay top creators on the app for successful content, will cease to exist come December 2023.
End of an era: TikTok Creator Fund closes
Originally launched in 2021, the fund was designed to provide those TikTok creators whose videos with at least 100K views the ability to earn revenue on their content. While this sounds like a noble effort and a great way for popular creators who had amassed a following to earn, word soon got around that the payout wasn’t quite what it originally seemed. Top creators noted getting as little as 2.5 cents per 1,000 views.
And while the Creator Fund is shuddering, TikTok says it will launch a new program (still in its beta phase at the moment) that will allow creators to earn up to 20 times more than with the previous program. (You can learn more about the rollout and the eligibility here.)
Ownership is at the core
At first glance, it may not seem like the biggest shocker that yet another app payout program has folded. However, as any creator who relies on their content and community for revenue knows, this news matters—a lot. TikTok’s fund closing is yet another example of the battle for ownership between creators and their platforms of choice.
While relying on platforms like TikTok or other social media apps can be necessary for audience growth and content reach (50% of people report first finding a creator through an algorithmic recommendation!), they can be huge blockers for revenue generation and content ownership. When Instagram was down for the better part of a day a few years ago, creators lost opportunities to communicate with their audience, post their offerings, and ultimately retain control over their businesses.
As an online creator, you should be in control of your business—always. At Teachable, that’s the crux of what we do. We put control and ownership over your content, audience, and pay outs in your hands. That way if your social media platform or email service provider goes out, your business won’t.
Our no-code platform is designed for creators who want to build more impactful businesses through courses, coaching, and digital downloads—not just social media clicks or views.
Escaping the algorithm
When your entire business relies on an ever-changing algorithm, one little change can make or break you. But with Teachable, you own your content and control how it appears to your audience. Plus, you own how you’re paid out. You can seamlessly customize your content with our no-code course builder.
Then, use our simple ecommerce features to get paid directly by your audience. Plus, our robust suite of monetization tools—including upsells, bundles, and order bumps—unlocks more value from every product you create.
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