TikTok has picked the first round of content creators to be on the receiving end of a $200 million fund designed to reward their top users and bring in new ones.
The video app announced the new program on July 22 with the intention of supporting “ambitious creators who are seeking opportunities to foster a livelihood through their innovative content.”
At the time, the company said the fund would start distributing the cash later in the year and is one of the few ways users can make money on the app. Previously, users could monetize their accounts only via livestreams or through brand partnerships.
On Monday, TikTok named 19 accounts chosen as the first recipients from the fund, which TikTok says is projected to amass $1 billion in the US over the next three years.
“Each of these creators has shown what it means to be your authentic self, bring joy and inspiration to people, and creatively connect with an audience,” TikTok said in an online statement.
“TikTok would not be the vibrant community that it is today without creators like these, some of whom have only been on the platform a few months and others who have been with us from the beginning,” the statement said. “From redefining a category to venturing into uncharted waters, these creators are a huge part of TikTok and we’re grateful for their ingenuity and creative spirit.”
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