TikTok creators will soon be able to charge fans $1 or more to view their videos, reports Insider, citing its own sources.
Paid subscription is one of the many features that TikTok can introduce to attract new users.
In addition, TikTok is working on Creator Fund 2.0, which will pay creators with more than 100,000 followers to keep them on the platform. It is reported that the new function may start working as early as March.
The platform also wants to expand its user base by attracting older users. According to Pew Research study in 2021, TikTok is currently used by only 21% of American adults. The app hopes to appeal to an older audience by featuring professionally produced content — videos that are more polished than those shot on amateur smartphones.
The moves come after TikTok cut its global ad revenue by about $2 billion last November in response to falling sales and a shrinking user base over the past year.
The new features will join a number of existing incentives for creators on the platform, including the ability for creators to connect with brands for sponsorship deals, as well as mechanisms that allow them to accept tips and attract paid subscribers to their live streams.
TikTok’s struggle to attract new users stands in stark contrast to the rapid growth it has experienced during the pandemic.
TikTok’s rise to a global phenomenon was incredibly fast. According to the data of Insider Intelligence, the app’s global user base more than doubled between 2019 and 2021, from 291 .4 million to 655.9 million. At the end of 2021, the app claimed 1 billion monthly users.