TikTok introduces US$200 million fund for US creators despite political headwinds
- The US is TikTok’s third largest market, contributing 8.2 per cent of new installations from January to June, after India and Brazil
- The first major success in global cyberspace by a Chinese company, the app is facing strong political headwinds in several international markets
TikTok, the short video app facing a potential ban in the US, has introduced a US$200 million fund to reward creators on its hugely popular platform.
The fund, open to applications from US creators above 18 starting in August, will initially target influencers such as teachers and livestreamers and help all video makers collaborate on paid campaigns with brands, the company said Thursday.
The funding will be distributed in the coming year and is expected to grow during that time. Qualified recipients must meet an unspecified baseline for followers and post original content in line with TikTok rules.
TikTok, the first major success in global cyberspace by a Chinese company, is facing strong political headwinds in several international markets. In the first half of 2020, the app recorded 596 million downloads, ranking top among non-game apps even without taking into account its Chinese version Douyin, according to analytics firm Sensor Tower.
The US is TikTok’s third-largest market, contributing 8.2 per cent of new installations from January to June, after India and Brazil, which accounted for 27.6 and 9.6 per cent respectively, according to Sensor Tower.
A US Senate panel on Wednesday introduced a proposed ban on TikTok being used on devices operated by government employees. The legislation will move to the Senate floor and then be voted on by both chambers.