If you use the well-known social media app TikTok, you might be curious about the earnings of your favorite creators. The fastest-growing platform in the world, TikTok, is still expanding at a rapid rate. Nowadays, everyone uses the thriving social media platform for social media marketing, from celebrities to regular people. The question is, however, how much money TikTokers make and how they do it. These queries will be addressed here.
TikTok has been putting in efforts to aid the creators in earning money. And, some of them are literally bagging in millions of dollars.
What is TikTok?
In 2017, the Chinese company ByteDance released TikTok. In the US in 2020, it was the app that was downloaded the most. 41% of TikTok users are between the ages of sixteen and twenty-four, making them by far the most frequent users. Because they are constantly using social media, this generation, also known as Generation Z, tends to offer a lot of engagement.
TikTok enables its creators to upload 30- to 60-second videos of themselves performing comedy skits, dancing, and lip-syncing. Brands even realize that they can use TikTok as a way to advertise. It has in fact developed into a multifaceted app with many opportunities.
How Much Money Do TikTokers Make?
Before the Creator Fund was established by TikTok, users of the app had to rely on sponsorships and deals they were able to secure elsewhere. Only the most well-known creators, who are required to have at least 100,000 followers, stand a chance of making significant money from the fund. Additionally, while they were streaming TikTok LIVE videos, the platform allowed creators to receive virtual gifts called Diamonds. Following that, TikTokers could exchange those Diamonds for cash.
However, TikTokers can now get virtual gifts even when they aren’t livestreaming, and they can also get tips directly from the audience. Although users who send money to TikTok pay a small processing fee, the app does not take a percentage of the Tips.
Although Creator Fund payments aren’t determined solely by views, some TikTokers said that the effective payouts for videos have only been a few pennies for every thousand video plays. Hank Green and MrBeast, two well-known TikTok creators, have spoken out against the low payouts. Green revealed in a January YouTube video that he received between $0.02 and $0.03 for every thousand views on TikTok.
Many influencers use brand deals to supplement their TikTok income because Creator Fund payments rarely cover their expenses. Depending on a creator’s follower count and content niche, rates for a sponsored post can vary significantly.
For instance, SEO claimed that he charged around $600 for each sponsored post on TikTok.
For a sponsored post, Symphony Clarke, an Atlanta-based TikTok creator with about 200,000 followers, charged between $350 and $600.
Alex Ojeda, who has around 8 million TikTok followers, has a starting rate of $20,000 for a sponsored video on the app.
Khabane lame the most followed TikToke is earning around $240,000 and $320,000 per sponsored post according to Countik’s analytics tool.
Selling goods, also referred to as “merch,” is another way that TikTokers can earn money. TikTokers adopted the practice of selling goods bearing the brand of well-known YouTubers like David Dobrik. By including a link to their store in their profile and on all of their social media pages, TikTokers can sell goods.
Fanjoy, a business that has cooperated with other social media creators, worked with well-known creator Addison “Rae” Easterling. Her website offers phone cases, hoodies, sweaters, shirts, joggers, and more in the $10–$50 range. Teenagers’ favorite items make up a large portion of the goods that are sold as merchandise on these creators’ websites. Addison Rae’s estimated monthly revenue from her merchandise store is estimated to be around $25,000 based on the number of followers she has.