ByteDance-owned video app TikTookay has launched a $200 million Creator Fund within the United States.
Writing in a weblog publish printed yesterday (July 23), TikTookay’s US General Manager Vanessa Pappas acknowledged that the intent of the US fund is “to help support ambitious creators who are seeking opportunities to foster a livelihood through their innovative content”.
The fund shall be distributed over the approaching 12 months and is predicted to develop over that point.
The announcement of the $200m fund follows two different notable bits of stories to return from TookayTookay this week:
On Wednesday (July 22), the corporate inked a global deal with Paris-based Believe and yesterday (July 23) we learnt that it has entered into a multi-year licensing agreement with the US-based National Music Publishers’ Association (NMPA).
To be eligible to learn from the fund, TikTookay customers have to be 18 years or older, meet a baseline for followers, and constantly publish unique content material consistent with the platform’s Community Guidelines.
The TikTookay Creator Fund will open to purposes from US creators starting in August.
“As our community continues to flourish, we’re committed to fostering even more ways for our creators to earn livelihoods by inspiring joy and creativity.”
Vanessa Pappas continues: “Through the TikTok Creator Fund, our creators will be able to realize additional earnings that help reward the care and dedication they put into creatively connecting with an audience that’s inspired by their ideas.
“In a relatively short time, TikTok has grown to become a source of income and opportunity for creators and their families – and we couldn’t be more encouraged by their success.
“As our community continues to flourish, we’re committed to fostering even more ways for our creators to earn livelihoods by inspiring joy and creativity.”Music Business Worldwide