Shocking confessions are coming forward regarding the TikTok app which already appears to be in some deep water.
The company’s former head of product is spilling the beans on how the platform’s creator fund was never launched with the purpose of assisting creators. Despite the company stating that its main purpose was to assist hardworking creators generate more revenue, the goal was to build a reactive measure to come head-to-head with competition from apps like Snap and YouTube.
This is a way to ensure creators remain engaged with the app.
Sean Kim adds how so many platforms out there today aren’t too bothered about things like successful monetization. He added how he is being so honest and that this is a bitter reality that he’s come to terms with after working for years in the industry.
Today, he’s the head of Kajabi and also its CPO. During a recent interview that was held last weekend, he claimed so many businesses today that are linked to social media end up focusing too much on metrics, especially those having to do with retention and active spells, and publish rates.
You won’t find things like monetization of creators there and if it is found, it’s located more toward the bottom of the list. So very few apps are giving it much importance if any.
This might not be the type of news that the app wishes to hear, especially after its struggles with its operations in the US in lieu of a potential ban on the rise.
Kim says he has worked at TikTok for three years and resigned only last year. He further raised eyebrows on how the app is concerned when creators earn more money than anticipated on rival apps because it can affect metrics and even retention of TikTok. And it does not wish to see that occur.
Hence, to sway away creators from indulging in that behavior, TikTok had to think fast and it did. It launched this creator fund and tried to entice more people to come forward and make money, although it’s hard working in that regard.
In 2020, when it was first launched, TikTok really had promised so many people that it would be paying a total sum of $200 million that would be distributed to all of the app’s top creators. And then we saw it further expand that figure globally to $2 billion.
This would be paid over the course of nearly 3 years.
H/T: HollyWoodReporter
Read next: TikTok CEO Claims Selling The Company Isn’t Enough To Stop Scrutiny Over Security Concerns
The company’s former head of product is spilling the beans on how the platform’s creator fund was never launched with the purpose of assisting creators. Despite the company stating that its main purpose was to assist hardworking creators generate more revenue, the goal was to build a reactive measure to come head-to-head with competition from apps like Snap and YouTube.
This is a way to ensure creators remain engaged with the app.
Sean Kim adds how so many platforms out there today aren’t too bothered about things like successful monetization. He added how he is being so honest and that this is a bitter reality that he’s come to terms with after working for years in the industry.
Today, he’s the head of Kajabi and also its CPO. During a recent interview that was held last weekend, he claimed so many businesses today that are linked to social media end up focusing too much on metrics, especially those having to do with retention and active spells, and publish rates.
You won’t find things like monetization of creators there and if it is found, it’s located more toward the bottom of the list. So very few apps are giving it much importance if any.
This might not be the type of news that the app wishes to hear, especially after its struggles with its operations in the US in lieu of a potential ban on the rise.
Kim says he has worked at TikTok for three years and resigned only last year. He further raised eyebrows on how the app is concerned when creators earn more money than anticipated on rival apps because it can affect metrics and even retention of TikTok. And it does not wish to see that occur.
Hence, to sway away creators from indulging in that behavior, TikTok had to think fast and it did. It launched this creator fund and tried to entice more people to come forward and make money, although it’s hard working in that regard.
In 2020, when it was first launched, TikTok really had promised so many people that it would be paying a total sum of $200 million that would be distributed to all of the app’s top creators. And then we saw it further expand that figure globally to $2 billion.
This would be paid over the course of nearly 3 years.
H/T: HollyWoodReporter
Read next: TikTok CEO Claims Selling The Company Isn’t Enough To Stop Scrutiny Over Security Concerns
