Whatever your interest or special talent is, you can be sure to find it on TikTok. People interested in dancing, singing, showing off their grub or demonstrating their ASMR skills are able to make careers out of their hobbies by getting paid to make TikToks.
With top earners such as American dancer Charlie D’Amelio who boasts almost 150m followers raking in at least $100k (£83,840) per sponsored post, it’s no wonder Brits are flocking to the app in search of a new, creative career.
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There are several ways TikTokers, influencers and businesses are making their money through the app.
TikTok Creator fund
In March 2021, TikTok’s Creator Fund launched in the UK promising a “whole new world of opportunity” to “celebrate and support the best and brightest talent” on the platform.
Since the founding of the fund, TikTok has committed £231 million over the next 3 years.
“We want all creators to have the opportunity to earn money doing what they love and turn their passion into a livelihood,” the app says.
The Creator Fund is not a grant or ad revenue sharing programme. It works in a way that creators receive funds based on a variety of factors from their videos, such as performance and engagement TikTok describes as “dynamic” - it changes naturally - so your funds will “ebb and flow” in the same way.
While there's no limit on the number of creators who can join, there is a certain criteria you need to reach to qualify for the fund such as:
- You must be based in the UK, US, France, Germany, Spain or Italy.
- You must be at least 18 years old
- Have at least 10,000 followers
- Have at least 100,000 video views in the last 30 days
- Have an account that fits with our TikTok Community Guidelines and terms of service
Brand deals, ad revenue, Cameos and promotion
The more established an influencer you are and the more popular you are on TikTok no matter what your niche is, you will be more likely to attract brand deals and sponsored posts.
While you don’t need to have a certain amount of followers for a brand to approach you, you are more likely to receive offers depending on your accounts performance.
British TikTok personalities have also taken to providing their followers with Cameos - a personal video message from your favourite TikTok star.
Cameo is not related to TikTok, however TikTokers have been using the video message app as further means of making money.
For example,TikTok brothers and Gogglebox stars Joe and George Baggs charge £34 for a personalised video message. TikTok user ‘Max_Balegde’ who has over 3m followers on the app, charges £80 per Cameo.
Virtual tips and gifts
Smaller creators, fear not! If you do not yet reach the 10,000 follower requirement to secure the Creator Fund, there is another way you can make cash on the app.
Those who have at least 1,000 followers can earn money through TikTok live gifts. Each gift purchased by your viewers has a different value, for example, a panda is worth 5 coins whereas a drama queen is worth 5,000.
These gifts are then converted into diamonds which creators can then exchange for money and are worth 50% of the value of coins, so if you are sent a drama queen that’s 2,500 diamonds.
Each diamond is worth 5p so if you have 100 diamonds, that is the equivalent of £50. However, TikTok also takes a commission of 50%.
Once you reach £100, you can start to withdraw money if you have a verified PayPal account linked to your TikTok. There is a daily cap for creators which means you can only withdraw up to £1,000 per day.
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