TikTok Is Scrapping Its $1 Billion Creator Fund

TikTok is discontinuing a $1 billion fund to invest in creators on the platform, the company revealed Monday.

Created in 2020, the fund was designed to incentivize and pay the top users on the platform for their content. To be eligible, TikTokers needed to have more than 10,000 monthly page views and meet other criteria. 

Now, creators in the U.S., U.K., Germany, and France will be blocked from monetizing their content through the fund, a company spokesperson said. (Those in Spain and Italy are unaffected.)

But it isn’t all bad news.

TikTok said its other creator monetization plan, the Creativity Program, remains open for business.

The program, first introduced in February, supports creators who produce videos longer than one minute. Anyone who was being paid by the original creator fund will be rolled over to the Creativity Program, where they can earn up to 20 times what they made with the original fund, according to TiKTok.