TikTok wants to reward creators for their creativity and for choosing TikTok through a new LIVE Subscription service to be launched on May 26. LIVE Subscription is a monthly subscription that TikTok users can use to show appreciation for their favorite LIVE creators. Initially, LIVE Subscription will be launched on a limited basis to select creators on an invite-only basis. In the coming months, Live Subscription will be rolled out globally in the coming months.
TechCrunch reports that some of the creators invited to test the beta version of LIVE Subscription include game streamers, artists, vloggers, beauty experts, dancers, musicians and others. Some creators have taken to Twitter to announce that they’ll be part of the initial testing.
“From beauty tutorials to watching your favorite recipes being prepared, learning new gaming tips and everything in between, TikTok LIVE allows creators to inspire, entertain and connect with engaged communities in real-time. And as we continue to connect creators with a global community, we’re always exploring new ways to reward creators for their creativity,” said TikTok in a May 23, 2022 blog post.
What is LIVE Subscription?
The goal of LIVE Subscription is to help creators monetize their content which serves multiple purposes. Creators can earn revenue while trying to build their audiences, and followers can support their favorite creators on a recurring basis. When Live Subscription launches, subscribers get exclusive perks, including:
- Subscriber badges displayed next to their name on their TikTok profile
- Exclusive emotes that are custom-designed by creators to use during LIVE sessions to further engage their communities and make the LIVE sessions more fun
- Subscriber-only chats connects creators and their subscribers, creating a more personal connection between them
TikTok has not revealed pricing.
Other monetization tools
Though LIVE Subscription is in the early stages, TikTok offers other monetization tools to creators. For example, creators can sign up for TikTok’s Creator Next program that gives them access to tools and features that help them grow and develop their audiences.
TikTok’s Creator Fund is part of the Creator Next program. Through the Creator Fund, TikTok rewards creators for making engaging videos. To be eligible, creators must be 18 or older, be a legal resident of a U.S. state or territory, have at least 10,000 “authentic” followers, have at least 100,000 “authentic” video views in the last 30 days, and post original videos that meet TikTok’s community guidelines.
LIVE Gifting is another way creators can monetize their work. During TikTok LIVE videos, creators who have the LIVE Gifting feature activated can receive Gifts from their viewers. Creators can also collect Diamonds which can then be redeemed for cash from TikTok.
Branded Content is another way creators can make money from their TikTok videos. Creators who promote products from specific brands can earn money for their work. In accordance with FTC advertising guidelines, TikTok advises creators that partner with brands that they must make viewers aware they have received payment or free products to make the video. Creators can find brands they can partner with in the TikTok Creator Marketplace.
According to Statista, TikTok is the seventh most used social platform in the world. TikTok has 732 million monthly active users, which is pretty impressive for a platform that has only been around since late 2016. Of those 732 million MAUs, 65.9 million are from the United States.
While TikTok has a strong share of the social media market, and creators and viewers alike flock to the platform, competition is heating up from Twitch, Facebook, Instagram and YouTube. TikTok wants to increase monetization options to attract and retain creators to bring their content exclusively to their platform. Going head to head with Twitch, LIVE Subscription is just one of many ways they can do that. It seems to be a more equitable way for TikTok to compensate creators than the Creator Fund which gets diluted the more creators share in the pot, according to Hank Green, the creator of VidCon.