As SVOD streamers pivot towards advertising, digital first platforms are heading in the other direction, by facilitating the growth of subscription-based revenues. TikTok, for example, has just expanded its subscription offering, meaning a much wider pool of creators will now be able to try and build a paying audience.
Announcing the news, TikTok said: “With a creator community as diverse as their interests and aspirations, we continually explore new ways to support their growth by offering a range of monetisation opportunities. As part of those ongoing efforts, earlier this year we announced plans to redesign and expand LIVE Subscription to make it available to non-LIVE creators. Now, the updated subscription feature is rolling out to eligible creators in select regions, with plans to expand to more markets.”
TikTok said: “Subscription allows creators to offer their most engaged followers special access to exclusive perks, unique experiences, and a members-only community for a monthly fee. Building on the strong, authentic connections they’ve already established through their content, creators can strengthen their community while also enhancing their growth on TikTok to increase their monthly revenue.”
To access Subscription, creators must be 18 years or older, have an account in good standing with at least 10K followers and 100K video views in the past calendar month, or meet specific LIVE eligibility requirements. Creators that hit these criteria can customise their subscription packages to reflect their personal style.
Options include ‘Private Communication Channels’, where creators can offer privileged access to various communication channels, including Sub Space, chats, comments, and messages, for direct interaction with their subscribers. Creators can also offer ‘Exclusive Content’ such as special videos, live content, and notes that are only visible to subscribers. ‘Community Identifiers’ and ‘Customised Perks’ are other tools to help build subscription revenues.
With a variety of monetisation options available on TikTok, creators can navigate to the monetisation module in TikTok Studio for an overview of all offerings, personalised recommendations, and detailed revenue analysis to identify new and relevant growth opportunities on the platform. For additional support, creators can visit the Creator Academy for educational resources to help them unlock their potential.
