TikTok is trying to attract new users. How?
TikTok creators could soon start charging fans to watch their videos, according to The Information. The goal of these projects is to bring more users to TikTok.
According to The Information, the paid section is one of many upcoming features TikTok is likely to introduce to its platform in an effort to attract new users. In addition to the paywall, TikTok is working on Creator Fund 2.0 – a new version of the original Creator Fund that launched in 2020 – which will pay creators with more than 100,000 followers in an effort to keep them on the platform. One of them told the publication that the feature could launch as early as March.
The platform also wants to expand its user base by attracting older users. Only 21% of American adults currently use TikTok, compared to 67% of American teens in 2022, according to a 2021 Pew Research study. The app hopes to win over this older audience by introducing professionally created content. “We are committed to exploring new ways to create a valuable and rewarding experience for the TikTok creator community,” said a TikTok spokesperson.
The moves come after TikTok cut its global advertising revenue target by about $2 billion last November in response to declining sales and saw its user base decline over the past year. Although CEO Shou Zi Chew and COO Vanessa Pappas said at an all-staff meeting last week that the company has no plans to lay off employees. The new features will join a number of incentives already in place for creators on the platform, including a marketplace for creators to connect with brands and enter into sponsorship deals, and mechanisms that allow them to receive donations and attract paying subscribers to their live streams.
TikTok’s efforts to attract new users are in stark contrast to the massive growth it experienced during the pandemic. TikTok’s rise to the position of a global phenomenon has been incredibly rapid. According to Insider Intelligence, the app’s global user base more than doubled between 2019 and 2021, from 291.4 million to 655.9 million. By the end of 2021, the app claimed to have 1 billion monthly users.
Source, photo: insider.com, photobank
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