Video sharing platform TikTok has launched a $200 million fund to offer financial support to creators in the United States. 'TikTok Creator Fund' will encourage those who "dream of using their voices and creativity to spark inspirational careers". The fund will open to applications from US creators beginning in August.
"The US fund will start with $200 million to help support ambitious creators who are seeking opportunities to foster a livelihood through their innovative content," Vanessa Pappas, General Manager, TikTok US, said in a blog post on Thursday.
As per the IANS report, the $200 million fund for creators will be distributed over the coming year and is expected to grow over that time. Pappas, however, did not disclose how much money each creator will receive."Through the TikTok Creator Fund, our creators will be able to realise additional earnings that help reward the dedication they put into creatively connecting with an audience," Pappas said.
To be eligible, users must be 18 years or older, meet a baseline for followers, and consistently post original content in line with its Community Guidelines.
The announcement comes at a time when the platform is facing criticism in several markets, including the US. Donald Trump administration has accused TikTok of sharing user data with the Chinese Communist Party. Earlier in July, US Secretary of State Mike Pompeo said the US is "looking at" banning TikTok and other Chinese social media apps.
The Indian government banned 59 Chinese apps, including TikTok, on June 29 amid rising border tensions along the Line of Actual Control.
India on July 27 banned 47 more apps with links to China, most being clones or from the same parent company whose main applications were banned last month. The banned clones include TikTok Lite, Helo Lite, Shareit Lite and Bigo Live Lite, among others.
This takes the total number of mobile applications banned for being prejudicial to the sovereignty, integrity and defence of the country to 106.