TikTok is shutting down its Creator Fund

TikTok’s decision to shut down its Creator Fund program has sent shockwaves through its creator community. A recent study by Epidemic Sound revealed that 30 percent of creators view TikTok as their primary income source, surpassing platforms like YouTube, Facebook, Twitter, and Instagram.

The Creator Fund, which compensates creators with a minimum of 10,000 followers and at least 100,000 video views within a 30-day period, will cease operations on December 16, according to Fortune as reported on Monday. The closure comes as no surprise, as TikTok had initially indicated that payments to creators would only last for three years when the Creator Fund was launched back in 2020.

Responding to these changes, a TikTok spokesperson told TIME that the company is committed to enhancing the overall user experience on TikTok and providing a wide range of opportunities for creators to earn money. The spokesperson stated, “Our commitment requires us to evolve our products and reallocate resources to best support our creators and explore new opportunities.”

While the Creator Fund program is ending, TikTok’s Creativity Program will persist, providing support to approved creators who produce videos longer than a minute. However, this program only allows creators to monetize these specific long-form videos.

TikTok mentioned to Mashable, “The Creativity Program is a result of insights and feedback from our previous Creator Fund. As we continue to develop new means to reward creators and enhance the TikTok experience, we highly value direct insights and feedback from our community.”

This change indicates TikTok’s shift into long-form content, creating an intriguing opportunity for creators on the platform.