TikTok is introducing a new way for creators to earn money — or at least take a chance at it.
The new monetization feature is similar to creator funds, except they’re set up by advertisers: A pool of money is set aside and creators are able to submit content for a chance at being selected by a brand. Creators then earn money from the pool based on metrics like views, clicks, and conversions. The program, called Creative Challenge, is open to users 18 years old and up who have at least 50,000 followers.
Videos submitted to the program must be “high-quality, well-edited, original content,” according to TikTok, meaning spammy low-effort content likely wouldn’t cut it. It also means that creators making ads for Creative Challenge are doing so without a guarantee of returns, and their payout will depend on how the video performs and what other content is submitted to that specific ad campaign.
Influencers typically are able to set their own prices and negotiate with brands they’re working with — a flat rate for one TikTok video or Instagram story, for example. The Creative Challenge model might cut down on the amount of time it takes to contact brands and try to get partnerships, but payouts could fluctuate depending on factors like performance.
Once a creator submits content to a challenge, they’ll be notified if a brand wants revisions, which they can accept or appeal. The videos created for the program won’t be published on a creator’s profile but will appear on the For You page once they’re approved, which is interesting — I’d personally like to know what brands a creator I’m following is working with.
TikTok says creators can submit to as many challenges as they want as long as there are openings. TikTok did not answer specific questions around the approval process, like whether videos will be approved on a first-come basis until slots are filled or if brands will be able to pick and choose eligible videos based on their own criteria.