This article discusses how TikTok is working to retain its creator talent in the face of competition from YouTube Shorts. TikTok is exploring new ways to reward creators and keep them producing original content for the platform.
TikTok and YouTube are going after each other’s core content creators. Ironically TikTok is set to reward more long-form content while Youtube is trying to energize its Shorts content.
TikTok has revamped its creator fund, the “Creativity Program,” with the aim to generate higher revenue and reward more creators for their work.
The program encourages creators to create high-quality, original content longer than 60 seconds. In contrast, YouTube has started to share its ad revenue with Shorts creators. Both platforms believe that if creators can make more money, they’re incentivized to make more original content for that platform. Despite YouTube’s clear lead, TikTok is focused on attracting new creator talent and seems committed to finding new ways to reward creators. The program is available on an invite-only basis for select creators, with availability for all eligible creators coming soon.
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The program also gives TikTok’s creators access to an updated dashboard with more insights into estimated revenue, video performance metrics, analytics, and video eligibility requirements.
The company has not said exactly how much money will be allocated for the program or how many followers/views creators may need to be eligible. However, the minimum requirement is expected to be 100,000 followers, a massive jump from the current Creator Fund’s 10,000-foll requirement. TikTok is keen to address criticisms of the Creator Fund’s current low payouts.
Despite massive headwinds that include privacy concerns, particularly in the US, along with significant competition for YouTube and Meta, TikTok continues to grow.
Video continues to be one of the most powerful tools available to marketers. It is an incredibly versatile medium that can be used to promote products, services, and ideas. In today’s fast-paced world, attention spans are shorter than ever, and short-form video content has emerged as a popular format. However, long-form video content still has its place, particularly when it comes to conveying complex ideas or telling in-depth stories. This collision between short-form and long-form video is an interesting phenomenon that creates opportunities for marketers. They must decide which format is best suited for their message, audience, and goals. Ultimately, the key is to create engaging and memorable video content that resonates with viewers and drives results.
This article was previously published on ayindesmith.com March 2nd 2023
