TikTok's Creator Fund Closes with $1 Billion

TikTok's $1 billion creator fund, which was introduced in 2020 to pay out to creators making viral content, will end on December 16th, 2023. Creators in the US, UK, Germany, and France will no longer be able to monetize their content through the original fund, but can switch to the new Creativity Program, which offers higher payouts based on views and engagement metrics. The original fund has faced criticism for low payouts, making it difficult for creators to earn a living solely from the fund. YouTube has also addressed the issue by offering ad revenue sharing on its TikTok competitor, Shorts.