TikTok said Friday that the wallet for its $1 billion TikTok Creator Fund will be available soon, and it sought to clear up two recurring questions about how the fund operates.
The video-creation platform said the wallet will enable creators to transfer funds to their linked payment method and withdraw what they have earned at the end of each month.
TikTok addressed questions about whether being part of the Creator Fund impacted its recommendation engine, saying that the fund is not factored in at all, and the recommendation engine does not receive information on whether or not creators are part of it.
The company also explained how payouts are calculated, writing in a blog post, “Funds are calculated based upon a number of factors. These factors include video views, video engagement, authenticity of a view, region in which your video is viewed, total participants in the program and adherence to the community guidelines and terms of service. What is uniquely TikTok about the Creator Fund is that a video has the opportunity to reach global audiences. Like video views, funds are therefore dynamic.”
TikTok concluded, “The Creator Fund is in its early stages, and we appreciate your patience and ideas as we continue to improve the experience for those in the program, better explain how it works and evolve things to meet the expectations and needs of our community. We’re committed to our creators and are here to support you. We’re always open to feedback and suggestions. If you have further questions or theories you want explained, we look forward to hearing from you.”