Tag Archive for: social monetization

TikTok Launches New Monetization Features For Creators and Entrepreneurs

, ,

TikTok is introducing new ways for pages to monetize their presence on the platform via digital “gifts” and tips.

Notably, these tools are exclusive to individual creators or entrepreneurs through the Creator Next monetization suite, which is not available to brands on the platform.

In a way, this makes sense as the new monetization features are designed to be direct ways for other users to reward creators for sharing great content. Let’s talk about exactly what these new features are.

TikTok Tips

TikTok now allows users to send money directly to creators as a “tip”.

The feature is managed through Swipe and requires an account with that service to be eligible to receive tips. 

Although creators will receive 100% of the value of the initial tip, TikTok will apply a service fee to generate revenue from this feature.

Signed-up profiles will include a new icon on their profile, which will allow users to send $5, $10, $15, or custom tips up to $100.

By default, others will be able to see when you send or receive a tip, unless you specifically choose to make your tip anonymous.

To prevent misuse, TikTok limits users to $500 total or up to 100 transactions per day.

TikTok Video Gifts

TikTok’s new Video Gifts blur the line between Reddit awards and its tipping system. It allows users to pay to reward content they love with specific gifts, which are shown to other viewers.

The big difference between this and something like “Reddit Gold” is that recipients can then exchange their rewards for actual money via a virtual currency called “diamonds”.

Interestingly, gifts come with some very unique benefits, including a boost in the platform’s algorithm:

As the announcement says:

“… a key metric that TikTok uses to assess the popularity of a video is the number of Gifts sent to a creator’s content.”

Are You Eligible?

Users interested in utilizing these monetization features must:

  • Be 18+ years old
  • Have at least 1,000 video views in the past 30 days
  • Have at least 3 posts in the past 30 days
  • Be in good standing regarding TikTok’s community guidelines
  • Reside in the US, UK, Germany, France, Italy, or Spain

If your account meets these requirements, you will be able to opt-in to the Creator Next suite.

For more, read the announcement here.

/0 Comments

Twitter Previews Subscription and Community Features

, ,

After months of rumors, Twitter has confirmed it is launching a subscription-like feature which allows users to pay for premium content from content creators or influencers on the platform.

The company previewed the new feature it is calling “Super Follow” at its investor-focused Analyst Day event last week, along with a few other new features which are coming to the platform soon.

What Is Twitter’s “Super Follow”?

Super Follow will soon allow creators, influencers, and brands to monetize their tweets, similar to platforms like Patreon or YouTube Subscriptions.

“Twitter is working on a “Super Follow” function that can be used to earn money directly on the platform. Here are the first screenshots”

For a monthly fee, Twitter users can sign up to get exclusive content and perks from a select creator, including:

  • A supporter badge
  • Access to a subscriber-only newsletter
  • Exclusive content
  • Exclusive promotions and discounts
  • VIP community access

Unlike what you can find on sites like Patreon, Super Follow is a one-size-fits-all feature amd does not allow for separate tiers for fans or support.

While the specific revenue split is not clear, Twitter says creators will be able to earn money directly through Super Follow, making this a viable way to increase revenue from social media. This will likely also make Super Follow an attractive option for publishers hoping to find a new source of revenue other than digital advertising placements on their site.

Twitter Communities Take On Facebook Groups

Another upcoming feature highlighted at the Analyst Day event was the launch of Twitter Communities.

Similar to Facebook Groups, Communities allows users to join together around common interests or topics.

Details about the feature are hard to come by, but images shared by those who attended the event show a conversation hub which may make discussions easier for larger communities. 

Otherwise, the layout, design, and features look distinctly familiar to anyone who has been active on Facebook Groups in the past few years.

Twitter’s Goals for 2021 and Beyond

To close out the presentation, Twitter listed three specific goals to achieve in the future:

  • Double development velocity by the end of 2023, which means doubling the number of features shipped per employee that directly drive either mDAU (monetized daily active users)  or revenue.
  • Reach at least 315 million mDAU in Q4 2023, which represents a ~20% compound annual growth rate from the base of 152 million mDAU reported in Q4 2019, which was the most recently reported mDAU when Twitter first announced this ambition in March of 2020.
  • At least double total annual revenue from $3.7 billion in 2020 to $7.5 billion or more in 2023.
/0 Comments