Tik Tok has become a rage. I see the videos being cross shared into my Instagram feed all the time. It's become so popular that now it has nearly a billion users on it. The concept is easy, one can make short videos or live chats with their viewers however users have a way to monetise their content and earn out of it too.
ByteDance owned Tik Tok is currently valued at over $75 billion and the company behind the app has several other successful products such as BuzzVideo, TopBuzz, Xigua Video, and notably Toutiao which has about quarter of a million app downloads.
It's simple and easy to use and has given an income to users especially from Tier 2 and Tier 3 Indian cities who seem to want to stay glued to this app. It's gone viral in Tier 1 cities as well where users who love creating this type of content have rushed to this app due to the possibility of becoming famous and garner a huge following for whatever the content they produce.
According to How2Shout the way to earn some money on Musical.ly which has now merged with Tik Tok was to do the folloowing.
If you want to earn from Tiktok, then after getting a reasonable amount of followers you need to start Live Chit chat with your followers as much as you can. And if any of your followers is a die hearted fan of yours and wants to send you a paid emoji, then he would need to buy it using the coins purchased from the TikTok.
The app has a virtual gift program, where the users can buy 100 coins for 0.99$. As he or she buy the coins, the 50% of every dollar is received by the person who is performing that act, while 30% goes as fees for Apple and Google.
I haven't downloaded the app personally as I can find enough of this content on Instagram if I search or amongst a couple of my friends who keep uploading this stuff.
According to a report in Money.com
In the past, Musical.ly licensed songs through deals with record labels, 7digital and Apple Music, the last of which is said to pay artists $0.00735 per stream.
Creators may have an even better deal. Right now, U.S. brands are largely using influencers to get their message out on TikTok. A search for #ad returns more than 763 million results; the top videos promote Coca-Cola and Dunkin Donuts.
“All the creators on the app have very loyal fans,” creator Drea Knows Best told Vox. “If they say, ‘Hey, guys, I’m partnering with Burger King, everyone go to Burger King and buy a burger,’ they will go to Burger King and buy a burger because they trust the influencers on TikTok and they’re loyal to them.”
Influencer Marketing Hub says businesses used to shell out as much as $20,000 per video ad on Musical.ly. TikTok rates are likely similar.
It's quite incredible that users are making this kind of money but it does come at a price does it not? Is the app making people dumber. I recall this video where two girls trying to record something while riding a scooter die after crashing into a bus.
The app seem to invite a lot of people creating absolutely shit videos as well. However, for the brands that are willing to pay for good quality streamers there seems to be a market as well as a large fan following to sell products to.
In an age of digital influencers, people are queuing up to find new fame on apps that in some cases tends to make big money for some of its users. How sustainable all this might be over the long run is hard to say for now.
Have you used Tik Tok app and made any money using it?
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