Getting rich thanks to social media is the stuff of dreams for many. But behind all the glitz and glam, earning a living on these platforms is no easy task.
Between growing your community, publishing content regularly and surfing on the trends of the moment, here’s how to go about trying to make some money on TikTok.
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The first thing you’ll need is patience, but that’s not all. If you’re counting on making money on TikTok, you’ll have to meet a number of conditions. TikTok may be THE hottest social network of the moment, but the Chinese giant doesn’t dole out the dollars so easily. So how much money can you really make from TikTok and how?
How to access the TikTok Creator Fund
TikTok has understood the need to attract creators by offering them remuneration for their content. That’s why the Chinese giant launched the Creator Fund as a way to reward the work of users and motivate them to enrich the platform. However, this money is only accessible to certain users. To be eligible for this funding, creators must meet certain criteria.
First, you must live in the United States, the United Kingdom, France, Germany, Spain or Italy. Secondly, while TikTok has long been associated with younger users, only those who are at least 18 years old will be eligible for this funding. Another requirement, and not the least, concerns your community, as you’ll need to have at least 10,000 followers to access the scheme.
Your videos will obviously play an essential role in the selection process, and you’ll need to have obtained at least 100,000 views over the last 30 days. And, it maybe goes without saying, but your account will need to comply with TikTok’s community rules and terms of service.
In total, the Chinese giant has committed almost US$300mil (RM1.32bil) to the fund over three years. However, the platform emphasises that the amounts will not be limited either by day or by creator.
A numbers game
But in concrete terms, how much can you expect to earn from your content on TikTok? On this point, the Chinese giant is a little more mysterious. Only the criteria taken into account are listed: the number of views, the authenticity of these views and the level of engagement are analysed to calculate the remuneration.
Some studies have looked into the subject and have estimated the income generated. A creator could, for example, potentially earn between US$20 (RM88) and US$40 (RM177) per million views thanks to the Creator Fund. While TikTok has not confirmed these figures, an influencer can expect to earn between 2 and 4 cents per 1,000 views. To put these figures in perspective, Charli D’Amelio, one of the biggest stars on TikTok, could therefore pocket up to US$4,400 (RM19,478) for a single video. Everything depends on how viral your content is on the platform.
Note also that collaborations with brands can also boost your earnings but, here again, patience – and negotiation – will be the watchwords. On average, you can expect to earn between 0.01 and 0.02 cents for each view you register. In other words, to earn US$1,000,000 (RM4.42mil), you’ll need to reach 100,000,000 views. So don’t quit your day job just yet. – AFP Relaxnews