TikTok is reportedly working on a paywall feature that will enable creators to monetize their content by charging $1 or more for people to access their videos.
Sources familiar with the company recently spoke with The Information on TikTok’s new monetization ideas. The platform is hoping to attract new users by incentivizing creators.
The app is popular among teens and TikTok is looking to grow its audience of older users.
The idea is that by providing more monetization avenues, TikTok can attract more professional creators. In turn, the video quality on the platform will rise and attract more older users.
“We’re committed to exploring new ways to create a valuable and rewarding experience for the TikTok creator community,” said a company spokesperson to Business Insider. The company declined to comment on specific features.
“On TikTok, anyone can be a creator and everyone can enjoy entertainment from our inspiring creators, and we aim to continue innovating this experience so people can express themselves, find their community, and be rewarded for their creativity,” said a company spokesperson to Business Insider.
Additionally, the platform is reportedly working on Creator Fund 2.0. Creator Fund 2.0 is a follow-up to the original Creator Fund and looks to pay creators with more than 100,000 followers on the platform.
TikTok saw incredible growth over the course of the pandemic as the relatively new app burst onto the scene. But that growth has slowed in the last year, and the app is looking to regain that traction.
These monetization efforts supposedly aim to draw more creators to the platform and, in turn, help generate more traffic.
