Illustration by Alex Castro / The Verge
As TikTok continues to grow in popularity and its personalities become mainstream celebrities in their own right, the company is trying to keep talent with a new $200 million creators fund.
The fund is meant to support ambitious creators who “are seeking opportunities to foster a livelihood” on the app, a TikTok spokesperson told The Verge. It marks the first major effort from TikTok to pay creators directly for their content. Prior to this, creators could monetize live streams, but the new program will pay people directly for making videos. Creators will receive regular payments over the coming year, and the fund will grow over time. The company did not confirm if there’s a limit to how many creators will receive funding. TikTok also…tech, The Verge