JUST IN: New Millionaires Set To Emerge in Nigeria As TikTok Announces New Program To Reward Content Creators

New Millionaires Set To Emerge in Nigeria As TikTok Announces New Program To Reward Content Creators

New Millionaires Set To Emerge in As TikTok Announces New Program To Reward Content Creators

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TikTok has released a new program for content creators on the social platform to make more moneyThe company said the new would allow hardworking and creative creators to make more money automaticallyThere are criteria to be met for TikTok creators who wish to benefit from the new reward system

Henzodaily.ng journalist Dave Ibemere has over a decade of business journalism with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

TikTok, the short platform, has announced its latest monetization tool to reward content creators and help them earn more revenue.

Bytedance, TikTok's parent company, said that under the new monetization program, creators will be rewarded based on four key metrics, which include originality, play duration, search value, and audience engagement.

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TikTok new reward systemTiktok wants creators to make more money
Photo credit: Nurphoto
Source: TikTok

TikTok reward program

In a statement published on its website, TikTok said it aims to encourage creators on their TikTok journey to generate higher earnings and unlock more opportunities by sharing their longer content.

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TikTok stressed that the new formula would also automatically reward creators for their account's ad value, which would be determined by their community's ad watch time.

Part of the post reads:

“We are excited to share that the creativity program is out of beta. As we officially introduce Creator Rewards Program, we look forward to continuing to partner with our creators and helping them realize their full potential.

The creator rewards program will continue to reward high-quality, original content that is over a minute long, using an optimized rewards formula focused on four core metrics: originality, play duration, search value and audience engagement.”

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Explaining further details on the metrics, the company said originality refers to quality content unique to the creator, showcasing their point of view or creative thought process in a way that resonates with their community.

It added:

“Play duration accounts for both watch time and finish rate. The new formula rewards accounts with clear content, and engaging, rather than favoring accounts with an excessive number of videos.

“Audience engagement includes likes, comments, and shares, all contributing to increasing creators' content value within the program.

TikTok has also introduced a new search Insights tool, which provides data on trending search topics and helps users create content that meets TikTok's requirements for “search value.”

It explained:

“Search value is a metric assigned to content based on popular search terms. Content that aligns with in-demand search topics increases its value for searchers.

“To find inspiration for content that resonates with audiences on TikTok, creators can use the recently announced Creator Search Insights tool to better understand what topics are popular in Search.”

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TikTok criteria for rewards

To be eligible for the Creator Rewards Program, it said creators must be at least 18 years old, have at least 10,000 followers with a minimum of 100,000 views in the last 30 days, and have a personal account in good standing where the program is available.

YouTube unveils new revenue-sharing formula

Earlier, Henzodaily.ng reported that a newly revised revenue-sharing formula for content creators will create more millionaires.

Creators across the globe, including Nigeria, will begin to earn more from the video-sharing platform after it announced the commencement of a new payment model on shorts.

The platform stated that it would generate revenue by monetizing Shorts creators based on their percentage of total Shorts views in the creator's pool.

Source: Henzodaily.ng

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