TikTok launches monetization feature, ‘TikTok Creative Challenge’

TikTok blogged in part earlier: “Creators are at the heart of TikTok, driving creativity, culture and entertainment… To further recognize and reward creators for their creativity and drive the value of their content, we’re introducing TikTok Creative Challenge… TikTok Creative Challenge is a new in-app feature that allows creators to submit video ads to brand challenges and receive rewards based on video performance. Creators can browse through the list of challenges, read the challenge’s brief which displays the reward pool and details rules and requirements, and submit their video ad. The Creative Challenge gives creators full creative freedom over their ads, unlocking more opportunities for creators to collaborate with brands in a way that’s most authentic to them…Once enrolled in the TikTok Creative Challenge, creators will have access to a number of resources including a dedicated Creator Community group and Mentor Program to connect with other creators to share knowledge, exchange insights and get rewarded.” Publicly traded companies that may be impacted by this include Snap (SNAP) and Meta Platforms (META).