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How to Make Money on TikTok: Best Ways to Make Money
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As TikTok's popularity grows, it's becoming easier for creators to make money from their content through many different methods. Here are some of the best ways to monetize your content on TikTok.
Over the past couple of years, TikTok has established itself as one of the most popular social networks. While short video content used to be mostly focused on dancing and lip-syncing, the creators have continued to explore a huge range of content, meaning there is something for everyone on the app.
With so much traffic on the app and the potential to reach a wider audience, many creators are wondering if they can make money from their channels.
Here are some of the best ways to make money on TikTok.
Creator Foundation
The $200 TikTok Creator Fund was launched back in 2020, and shortly thereafter, it was announced in July that the fund would grow to over $1 billion in the US over the next three years.
The Foundation allows creators to monetize their content right from the app, but there are some requirements you must meet to be eligible.
Exciting update! 💥
— TikTok Creators (@tiktokcreators) July 30, 2020
We have seen an incredible response to the Creator Fund and are thrilled to share that we expect this Fund will grow to over $1 billion in the US in the next 3 years.
We will be sharing more information about the application process soon! pic.twitter.com/S8o2UQ8wcV
To qualify, you must meet the following requirements:
- Live in the US, UK, Italy, Spain, Germany or France.
- Be at least 18 years old
- Have 100 followers or more
- Get 100 video views in the last 000 days.
- Compliant with the TikTok Community Guidelines
Once these requirements are met, you can apply through the TikTok app via Pro account.
According to official TikToks page, the amount you earn is different for each video and each author. Calculations are based on a wide range of factors, including views, engagement rates, and compliance with the Community Guidelines.
They also say it depends on how much content is posted by the community, which means the amount you can receive changes on a daily basis.
Sponsorship
For TikTok stars like Addison Ray and Charlie D'Amelio, one of the biggest sources of income is sponsorship. Addison has worked with companies such as Disney, American Eagle, and Daniel Wellington, while Charlie has partnered with places like Dunkin' Donuts.
While these are certainly huge companies and it's not necessarily accessible to aspiring creators, companies of all sizes are constantly looking for ways to market their brand through TikTok.
Adding a business contact email address to your profile will let businesses know you're open to promoting products to your TikTok followers, and as your account grows, so will the opportunities.
Coins and gifts
Like platforms like Twitch, TikTok has implemented its own virtual item program that allows users to give gifts to some of their favorite creators.
Users can purchase varying amounts of coins through their TikTok profile, which can then be used to purchase gifts, a collection of different emotes that can be shared with creators via livestreams.
If you receive a gift from a viewer, you will receive Diamonds in return. These diamonds can then be exchanged for real money.
While this process can be a bit confusing, it provides a great way for subscribers to contribute to your content and express their appreciation directly through the app.
According to youtube channel DavisonVideo , this is worth about one US dollar per 100 coins, and given that diamonds are worth 50% of the value of a coin, this means that it would take 200 diamonds to equal one US dollar. You can also withdraw your funds only when you reach $100.
To view your balance:
- Launch TikTok and go to the Me tab.
- Click on the three dots in the top right corner to enter settings.
- Select the "Balance" tab and then "LIVE gifts" to see how many diamonds you have or pick them up.
While the money may not come immediately after starting your TikTok career, the platform is slowly introducing better and easier ways for creators of all sizes to monetize their content.
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