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Top social media giant TikTok is launching another monetization option for creators. TikTok announced a new feature that expands creators’ monetization options, with the addition of subscriber-only videos, which will enable creators to share exclusive content with paying subscribers within the app.
TikTok’s new feature will be built into the LIVE Subscriptions package that TikTok launched last year and enables live-streamers to generate recurring revenue from their efforts, by sharing regular exclusive streams with their paying audience. Also, they will be able to share non-live content as well, providing another incentive to win over more users.
@tiktoklive_creator Welcome to LIVE subscription – connect with your community on a whole new level! #LIVESubs #TikTokLIVE ♬ original sound – TikTok LIVE Creator
According to TikTok:
“Subscriber-Only Videos are exclusive videos that only subscribers can view. The new perk encourages interactions beyond the LIVE room, enabling subscribers to like, comment, and reply to one another, helping creators foster even more meaningful connections with their community.”
TikTok platform is still developing a more effective, equitable revenue program for creators, in order to keep them more aligned to the app, by building out its LIVE Subscriptions package, which could be another means to maximize interest, and opportunity, for streaming creators. TikTok would also like to parlay that popularity into live-stream commerce, but thus far, TikTok users haven’t been overly enamored with live shopping in the app.
In addition, TikTok is seeing significant live commerce growth in East Asian markets, but Western audiences haven’t warmed to the concept, which has also been a big hit for the Chinese version of the app. Further, live commerce is now the top revenue stream for Douyin, the Chinese iteration of TikTok, and parent company ByteDance had been hoping that it could translate that success over to the billion users also on TikTok. Thus, TikTok’s been forced to consider other options, including creator subscriptions and facilitating brand partnerships, as a means to get revenue flowing to top talent. TikTok says that LIVE Subscriptions are available to creators over 18 years of age with a minimum of 1,000 followers. The question now is whether that will be enough, or whether more of its stars will look to other platforms instead, where they can generate greater income from their efforts.
Overall, TikTok’s long-term growth remains a significant risk, and that is why is trying new features regularly in the hope that it can find the best way to grow as a platform.
You can find more info on TikTok’s creator monetization features here: https://www.tiktok.com/creators/creator-portal/en-us/what-to-know-about-live/live-safety/
Source: Social Media Today
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