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TikTok rolls out Creator Next and expands money-making opportunities for creators

TikTok has announced that it’s rolling out Creator Next, a single hub for all of the platform’s monetization tools, and it also outlined some updates for its existing creator tools (via TechCrunch).

This is part of TikTok’s larger efforts to retain creators and prevent them from hopping on other networks that pay creators, like Instagram, Facebook, YouTube, and Snapchat. When the platform was just a year old in 2019, users struggled to find ways to earn money natively through the app to get ways to earn money natively through the app, as they had to secure deals and sponsorships outside of the app. To help remedy this, the platform later rolled out its $200 Million Creator fund in 2020, splitting up the cash to reward the most popular creators.

Tiktok started testing tips as another way for creators to make money this October, but now it appears that the feature is available to all creators who meet TikTok’s eligibility requirements. The qualifications include being over the age of 18, having an account in good standing, and having 100,000 followers or more. TikTok notes that creators will receive 100 percent of every tip, and that they’ll be processed through payment service Stripe, with tippers incurring a small fee. As TechCrunch points out, going through Stripe ensures that TikTok won’t have to pay Apple’s required 30 percent commission for in app purchases.

In its post, the platform also noted that it’s expanding on its Live Gifts feature, which lets viewers gift diamonds — a virtual currency that’s redeemable for cash — during livestreams. TikTok is now throwing Video Gifts into the mix, allowing users to donate diamonds during regular, non-live videos. Just like with Tips, creators must have 100,000 followers or more (among a few other things) to qualify. This is quite the change from Live Gifts, which only require creators to have 1,000 followers or more.