How to Make Money on TikTok in 2023
If you’re a content creator, you’ve probably wondered how to make money on TikTok, how much money you can actually make, and what the platform’s payments look like. Let’s talk TikTok monetization!
If you’re a content creator, you’ve probably wondered how people make money on TikTok, how much money they can make, and what the platform’s payments look like. Let’s talk monetization!
Since its global launch in 2017, the social media giant has been hot property. But can you make money on TikTok? Does TikTok pay you? Yes! As its popularity surged, it became a viable income stream for many content creators, rather than just a place to watch videos of Arnold Schwarzenegger chasing a miniature pony.
@arnoldschnitzel Whiskey and Lulu need exercise too! #happyathome ♬ original sound - Arnold
In this blog, we’ll cover:
- How many views you need to make money on TikTok
- How TikTok pays creators
- TikTok monetization requirements: 2023
- How to access payments with TikTok Creator Next
- How else to make money on TikTok
- How much money can you make on TikTok?
How many views and followers do you need to make money on TikTok?
Until December 2021, the barrier to making money directly from TikTok was much higher. To monetize your account, you had to be at least 18 years old (which is still the case!), have more than 10,000 followers, and have at least 100,000 video views in the last 30 days.
If you met those criteria, you could apply for TikTok’s Creator Fund. The payment-per-view figures have never been publicly disclosed, so it’s not as easy as saying ‘1,000 views = $X.’ Roughly, it’s estimated that you can pull in around two to three cents for every 1,000 views once signed up to the Creator Fund.
However, payments vary depending on the number and authenticity of views, the level of engagement on the videos, and ensuring content is in line with TikTok’s Community Guidelines and Terms of Service.
For a while, the Creator Fund was the main way for big-name content creators to earn money on TikTok passively. Then Creator Next came along.
What is Creator Next?
Towards the end of 2021, TikTok introduced a new feature. It’s a monetization hub called Creator Next, and it houses all of the platform’s money-making options under one roof, making earning on TikTok more accessible. To be eligible, you need to be 18 years old or more and have at least three posts that have racked up 1,000+ views in the past 30 days.
Once you’re enrolled in Creator Next, there are multiple ways you can monetize your TikTok beyond just Creator Fund.
Creator Next offers:
- LIVE Gifts: TikTok awards ‘Diamonds’ based on the popularity of creators’ LIVE videos, which can then exchange for real-life currency. Viewers can also LIVE Gift their favorite content creators during LIVE videos, which can also be converted into cold, hard cash. This feature existed before Creator Next, and any TikTok user over 18 and part of the Creator Next program is eligible to receive LIVE Gifts.
- Video Gifts: This allows creators to collect Diamonds based on views on their short videos rather than LIVE videos. Viewers can also send Gifts, just like on LIVE videos. To be eligible, creators need at least 100,000 followers, an account that’s over 30 days old, and a public video published in the last 30 days.
- Tips: Viewers can donate money to their favorite content creators, who’ll receive the full tip (minus any service fees.) This tool is available for creators with more than 100,000 followers.
- TikTok Creator Marketplace: This gives creators the chance to connect and collaborate with brands through an official portal on both paid and reward-based campaigns. Brands will invite creators directly to the Creator Marketplace, but you can also apply if you have more than 10,000 followers.
65% of TikTok users prefer content from brands that use original sounds. Get yourself a slice of that by clicking below.
How to get paid on TikTok
So, how else do you get paid on TikTok? Before Creator Next, there were still loads of avenues for TikTokers to earn dollar. Aside from Creator Fund, you could (and still can!) sell your own merch, direct people to gated content on another platform like Patreon, grow and sell accounts, or become a TikTok consultant for brands.
And, of course, brand partnerships existed before Creator Next. The TikTok Creator Marketplace just makes it easier to facilitate! Between 2019 and 2021, US marketers planning to use TikTok for influencer marketing shot from just 16% to 68% – it’s clear that the platform’s bankability is only rising, and brand-sponsored videos can earn up to $1,000 if they reach 100,000 views.
How else can you make money on TikTok?
Despite Creator Next being pushed as the go-to piggy bank, there are more ways to make money on TikTok. Let’s explore those options below.
Use TikTok to advertise your products and services
If you have your own things to peddle and want to try making income as a creator, you can always make TikToks that show off your products and services.
It doesn’t matter if your hustle is proofreading, personal training or making little necklaces out of seashells – if it looks good, you can hook people in. If you want to spread the word and attract the right kind of viewers, ensure your captions, descriptions and hashtags are on point when it comes to keywords.
Check out Axel Webber’s merch drop to get a feel for how to do it right.
MERCH DROP FRIDAY 4/1/2022♬ original sound - Axel
Partner with a brand that aligns with your values
‘Sponsored content.’ Surely, that’s the dream – being paid just to be you? Cakewalk.
Year after year, brands are taking TikTok more seriously when it comes to their marketing budgets. However, you might struggle to get noticed if you’re a smaller creator. You can still access the TikTok Creator Marketplace and test the waters there, but you have to wait for brands to come to you.
Some creators will sign partnerships outside of TikTok. Occasionally, they luck out and it falls into their laps: a brand notices them, gets in touch and offers them a deal.
As a smaller creator, it’s worth seeking out brands you want to work with. Find the companies that chime with you and reflect your values. This is important for two reasons.
- You need to feel comfortable with the partnership for it to be a success. There’s no point doing it if you feel gross about working with a company you disagree with.
- Your audience will see right through a deal you’ve just done for the money. For example, a vegan influencer probably couldn’t get away with a sponsored post for an oil company. Partnerships work when they’re seen as genuine extensions of your personal brand – prepare yourself for sell-out claims if you buddy up with a brand that’s opposed to the views expressed in your content.
You can use websites like Templatelab to create free, high-quality press kits to send to brands. Let them know you’re serious!
With that in mind, you could always create a few non-sponsored posts on your TikTok where you just… talk about the brand you have in mind. Maybe they have a killer face cream or life-changing snack. Hype it up. Tell people where you got it, why you got it and what makes it so special. Creating a non-sponsored post bigging up the brand shows them you have what it takes to communicate their values, products and services.
And remember: use the ‘Branded Content’ toggle if you’re actually creating sponsored, paid-for content. That way, you can be transparent with your viewers and ensure your video doesn’t get removed for breaking the rules.
How to make money on TikTok with ads
You can make money on TikTok with an advertising tool called TikTok Pulse. Like YouTube's monetization scheme, it offers a 50/50 split between advertisers and creators. However, you need at least 100,000 followers to use it, so it's not the best thing to recommend for beginners! If you want to learn more about how TikTok ads work, click here.
How much money can you make on TikTok?
So, you’ve learned how to make money on TikTok. But just how far does this thing go? Let’s quickly look at TikTok’s top earners in 2023.
gourmet♬ original sound - charli d’amelio
Who earns the most money on TikTok in 2023?
- Charli D’Amelio earns an estimated $17.5 million per year, thanks to her massive following, binge-worthy dance clips, and sponsorship deals with everyone from Hollister to Dunkin’ Donuts.
- Addison Rae rakes in around $8.5 million every year. She’s packing a whole host of merch, bespoke makeup products, and deals with Reebok, American Eagle and more. Her newfound music and acting careers probably help, too.
- Khaby Lame enjoys an estimated annual $5 million on TikTok, which sounds pretty sweet to us. In summer 2022, he became the most-followed account on the platform, crushing it with Netflix, Hugo Boss and Amazon Prime sponsorship deals.
While the amount isn’t set in stone, the answer to 'How do you make money on TikTok?' is 'Easily.' With the addition of Creator Next, it’s now simpler than ever for content creators to learn how to make money on TikTok, build towards monetization, and make a living from the platform. We’re sure Arnie is saddling up as we speak.