Marketing has evolved; the new Creator Fund rewards the influencer community that returns influence to the platform on which they create! Today, digital media creators need not create in vain without any monetary compensation, no matter how difficult it is to share the creator fund. Each platform has its own allocated creator fund over and above the ad revenue and other direct sales opportunity influenced by creators. In 2021, a creator is an invincible part of the creator economy no matter how advanced technology can deep fake anything.
TikTok Creator Fund
The TikTok Creator Fund 2021 is an opportunity for the best and the brightest creators on TikTok. TikTok, to encourage new talent and support the existing community of creators who spend day and night making TikTok a place of instant entertainment, has allocated $70 million for creators across the UK, Germany, Italy, France and Spain. The TikTok Creator Fund is not a grant or a commission from ads; it is additional support money offered to creators based on their video performance, and hence the fund is not a flat sum of money. TikTok aims to generate funds up to $300 million by 2022/2023 to make TikTok a rewarding experience for its users. TikTok users have to apply for the TikTok Creator Fund eligibility check. Source.
Snapchat Spotlight Fund
In a race with TikTok, Snapchat, which was almost drowning, resurrected itself with its creator fund for up to $1 million a day for creators who uploaded videos via its new Spotlight feature. The fact that Snapchat launched its fund ahead of Facebook or YouTube has helped Snapchat regain its popularity from the lull of creation. At the Snap Partner Summit in May 2021, Snapchat informed of a monthly user base of 500 million people, with about 280 million checking it daily. With its new creator fund, the figures rose to $2.5 billion in 2020 and $770 million in Q1 2021. Snapchat determines the potential earning of a creator using their proprietary formula based on the total number of unique video views to the performance of other user posts in Spotlight on a given day while ensuring that there is no fraudulent engagement.
YouTube Shorts Fund
Following TikTok, in May 2021, YouTube informed about the YouTube Shorts Fund. As per The Verge, YouTube has finally launched the YouTube Shorts fund and allocated a fund of $100 million to support creators with maximum engagement and views. In this, YouTube plans to reach out to thousands of creators, rewarding them for their performance. In the news, YouTube has clarified that this opportunity is not limited to those already a part of YouTube’s Partner Program, but any original creator creating original delightful shorts in adherence to the YouTube Community Guidelines is eligible for participating in the YouTube Shorts Fund 2021. YouTube will disburse the fund over FY 2021-2022. Although YouTube is late to reward its creators, it would in no time catch fire for being an already popular video platform.
Facebook Creator Fund
On July 14, Facebook (NASDAQ: FB) has announced its reward program. Facebook has resolved to invest $1 billion in support of its video content creators. Facebook’s creator fund is called Bonuses, an invitation-only feature to encourage new creators in the fringe. In the beginning, Facebook will solicit creators who fit their criteria and gradually empower those recipients to communicate the opportunity. As Facebook continues to build Live Audio Rooms, Bulletin, Stars, and affiliate, Bonuses is an arrangement to appease and encourage new creators to create content that communities will enjoy. Facebook will share more details on individual programs, including eligibility and how creators can apply as they become available. Facebook will share this feature with creators on Instagram over time.
Spotify Creator Fund
Here comes the Spotify Creator Fund via Greenroom. The fund is rewarded to content creators who create content on Greenroom. Like all the other creator platforms, Spotify, too, aims to support creators to encourage better engagement between fans and creators. Creators on Spotify Greenroom are rewarded for the communities they build, the audiences they reach, and the experiences they create from the very start. Payments are based on your performance according to the factors referenced previously. While many creators will receive payments, not everyone will earn a payment. Spotify will contact creators that earn payments to alert them of their earnings and how to collect them. Spotify Greenroom creators can now apply for the program as per the specification detailed on this website.