First, there was Facebook, then there was Instagram, and now there is TikTok. There are nearly 700 million monthly active users and two billion downloads globally. So obviously, it is a top-rated platform that is getting more and more users every day. And that means there are some serious business opportunities for content creators on the forum. So in this
article, we outline a few ways content creators make money on TikTok.
Like with any other social media site, most people make money with sponsored posts and branded content. There is even an official TikTok Creator Marketplace that helps newcomers find opportunities, get representation and reach out to brands
What is interesting about TikTok is how much it emphasizes audio and songs. This fact is significant for musicians to get their music noticed, and it leads to them often paying influencers to feature their music in their videos. So we can call these kinds of deals audio sponsorships.
For instance, let’s take a look at a slot machine producer. They want to present their newest online casino. What better way to do than by contacting an influencer on TikTok to play a few spins and record themselves having fun? The fan base would immediately jump on the link, no need for any extra marketing here. It is one of the most efficient ways for companies to promote themselves.
The second most obvious way to earn money on TikTok is to sell your products and merchandise. As always, a bigger audience means more potential customers, so it is in the interest of the creators to have a large and dedicated following. And the merchandise can be directly sold in the app, no need for third parties.
The platform tries to help creators as much as possible. For example, it allows creators to post links to their websites or alternative merchandise platforms, giving creators more freedom and fan bases.
With a Bit of Help from TikTok
It is in the interest of TikTok for their biggest creators to earn money solely through the platform. In pursuit of this goal, they have created a fund to pay creators for making videos directly. It has 200 million dollars but could expand up to 1 billion in the next two years.
The requirements and how much you can receive as an individual creator from the Fund are unknown. However, creators can apply through their TikTok profile when they receive an invitation from TikTok if they meet their minimum requirements.
Like Youtube, creators’ money is to host live streams where their fans send them gifts. Creators can then convert these gifts into “diamonds,” TikTok’s name for virtual credits. They can then be cashed out via Paypal, although there are daily limits. Also, for fans to even send gits and coins, they must be at least 18 years old.