TikTok announced a new monetization feature for creators called Creative Challenge. Creators can submit branded content to brand challenges and earn money based on the video’s performance. It is similar to creator funds; however, it’s the brands that pay the creators.
Who are eligible for this feature?
According to TikTok, to join Creative Challenges, creators must be 18 years old and running a US-based account with 50,000 followers. Once enrolled, creators can browse the list of challenges and read the details, such as requirements and the reward pool. Creators will have creative freedom on the ads they are going to make as long as they are “high-quality, well-edited, original content.”
⭐️TikTok Creative Challenge⭐️ A new way for creators to collaborate with brands with full creative freedom! We're excited to continue recognizing and rewarding creators for their creativity through this new in-app feature.♬ original sound – TikTok Newsroom
How does this monetization feature work?
After submission of the videos, creators can track their performance and how much they are earning for a specific ad. TikTok said that rewards will depend on several factors, such as clicks, views and conversions. Creators will also receive notifications if their video submissions need revisions. Once approved, the video will run as ads in the users’ For You Feed.
This new feature allows creators to collaborate with brands and reward them for their creativity. TikTok also said that the feature “provides brands with authentic, high-performance and easy-to-use creative content at scale to help drive their performance advertising campaigns.” TikTok Creative Challenge is currently in the testing stage with select brands.
Creators who work with brands usually receive the agreed payment regardless of how many views the videos get. With this new feature, creators might get a chance to earn money from the ad they created, but there’s no guarantee of big payments since the rewards depend on the engagement reached. While this is still a good option for those who are still starting out making branded content, it’s always better to see creators paid for their hard work. Will creators dedicate their time and resources to making content without any guarantee of a return? We’ll just have to see how the TikTok creator community receives Creative Challenges.