TikTok is pledging $1 billion to help top creators turn their popular pastimes into careers.
The company has selected the first recipients of the new TikTok Creator Fund, which include influencers who post videos on a range of topics from beauty to health and even cosplay.
"We want to ultimately make an investment in that creator community so that we can support creators of all sizes and backgrounds through earnings that really reward the passion, the dedication they put into that inspiring, uplifting, and entertainment content that they're delivering to our TikTok community every day," Bryan Thoensen, head of content partnerships, told Cheddar.
The fund was initially set at $200 million, but TikTok has since said it will increase that to $1 billion in the U.S. over the next three years, with plans to more than double that globally.
Creators, which Thoensen called "the heart and soul of TikTok," are eligible for funds if they are at least 18 years old, have 10,000 followers, and have accrued at least 10,000 views of their content in the last 30 days.
TikTok has made headlines this summer over reported acquisition talks and a possible ban in the United States.
In July, TikTok star Addison Rae told Cheddar it "would be a really sad day," if the U.S. banned the platform, but ultimately it comes down to safety.
"I am forever grateful for it and will always give a props to TikTok for everything I have," Rae said. "But I think if it's a safety concern, I 100 percent stand behind that, and I think there's no reason to go against that if it's protecting people."
Thoensen said the sentiment across the creator community is a love for the platform.
"We are laser-focused right now on growing and building that creator community, making TikTok a place where creators can come and feel like it's their creative home," Thoensen said. "And that's really where we take our creator fund efforts."
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