How to make money on TikTok: Best ways to make cash
As TikTok is growing in popularity, it’s become easier for creators to make money from their content through a variety of different methods. Here are some of the best ways to monetize your TikTok content.
Over the past couple of years, TikTok has established itself as one of the most popular social media platforms. While the short-form app used to be largely centered on dancing and lip-syncing, creators have gone on to explore a huge range of content, meaning there’s something on the platform for everyone.
With so much traffic on the app and opportunities to reach wider audiences, many creators are wondering whether it’s possible for them to make money from their work on the app.
Here are some of the best ways for you to make money on TikTok.
The $200k TikTok Creator Fund was launched back in 2020, and shortly after in July it was announced that the fund would grow to over $1 billion in the US in the next three years.
The fund allows creators to monetize their content directly from within the app, but there are some requirements you have to meet in order to be eligible.
Exciting update! 💥
We have seen an incredible response to the Creator Fund and are thrilled to share that we expect this Fund will grow to over $1 billion in the US in the next 3 years.
We will be sharing more information about the application process soon! pic.twitter.com/S8o2UQ8wcV
— TikTok Creators (@tiktokcreators) July 30, 2020
In order to qualify, you need to meet the following requirements:
- Be based in the US, UK, Italy, Spain, Germany, or France
- Be at least 18 years of age
- Have 10,000 followers or over
- Have 100,000 video views within the past 30 days
- Be active and fit within TikTok’s community guidelines
Once you’ve met these requirements, you can apply via the TikTok app through a Pro/Creator Account.
According to TikToks’s official page, the amount you’ll earn is different for every video and every creator. The calculations are based on a wide variety of factors including the number of views, level of engagement, and alignment with community guidelines.
They also say it’s dependent on how much content is published by the community, meaning that the amount you are able to receive changes daily.
For TikTok stars like Addison Rae and Charli D’Amelio, one of their biggest sources of income is sponsorships. Addison has worked with companies like Disney, American Eagle and Daniel Wellington, with Charli partnering with places like Dunkin’ Donuts.
Subscribe to our newsletter for the latest updates on Esports, Gaming and more.
While these are of course huge companies, and not necessarily attainable for creators who are just starting out, businesses of all sizes are constantly looking for ways to promote their brand via TikTok.
Adding a business contact email to your profile will let companies know that you are open to promoting products to your TikTok following, and as your account grows, so will the number of opportunities.
Coins and Gifts
Like platforms such as Twitch, TikTok has implemented its own Virtual Items program that allows users to give gifts to some of their favorite creators.
Users can purchase varying amounts of coins via their TikTok profile, which can then be used to purchase Gifts, a selection of various different emotes that can be given to creators via live streams.
If you receive a Gift from a viewer, you receive Diamonds in return. These Diamonds can then be exchanged for real money.
While the process may be slightly convoluted, it provides a great way for followers to help your content out and show their appreciation for you directly via the app.
According to YouTuber DavisonVideo, it costs about one US Dollar for 100 coins, and with Diamonds being worth 50% of the coin value, that means it will take 200 Diamonds to equal one US Dollar. You can also only withdraw your funds when you reach $100.
To view your balance:
- Launch TikTok, and go to the profile tab.
- Click the three lines in the top right to enter settings.
- Select the balance tab, and then ‘LIVE Gifts’ to find out how many Diamonds you have or Withdraw them.
While the money may not come rolling in immediately upon starting your TikTok career, the platform is gradually introducing better and easier ways for creators of all sizes to profit from their content.