TikTok has revealed plans to release funds amounting to $200 million to assist content creators to continue to add content to the fast-growing video-sharing app.
TheNewsGuru.com (TNG) reports Vanessa Pappas, General Manager of TikTok US, made this known, saying the support is for ambitious creators.
The fund is to “help support ambitious creators who are seeking opportunities to foster a livelihood through their innovative content.
“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”.
This is coming as TikTok is presently seeing strong momentum, especially among young smartphone users.
The fund, according to TikTok will be open in August to US applicants 18 years or older who have a platform following, and post original content in line with its community guidelines.
While it is expected that TikTok will extend the funding to other climes, the move could help ramp up interest in TikTok, which has seen its user base grow to an estimated one billion.
Until now, TikTok has been using the model of Facebook-owned Instagram, which allows creators to post sponsored videos but without direct remuneration from the platform.