The ‘creator economy’ is big business nowadays, which means the big social media firms are falling over one another to offer new ways for their creators to make money.
TikTok is the latest to experiment with creator-level subscriptions, which are launching this week on an invite-only basis. The ‘Live Subscription’ will let TikTok users pay monthly subscriptions to individual creators in return for perks including profile badges, custom emotes to use in livestream chats, and access to subscriber-only chats if the creator turns it on.
There are some rules though: users will have to be at least 18 years old to buy subscriptions. What hasn’t been announced yet is how much the subscriptions will cost, and what share of the revenues TikTok will keep.
Bearing in mind our lead story today, it’ll be important for any artists using the new feature (and labels / management suggesting they use it) to understand the demands of a paying fanbase, and have a good plan for serving that without adding to their stress.