TikTok has had a great impact on social media since 2020 as it has forced other social media platforms to introduce new features to try and go head-on with the most visited website in 2021.
For instance, social media forced Instagram to rush some of its features and change others to make its app a viable competitor. Also, we saw YouTube, known for its long videos adapt a new format of short videos introducing a new “Shorts” section.
Of course, the popularity of a social media platform depends on the good things it has to offer to its users and TikTok doesn’t seem to be backing off as they are set to introduce a feature that would benefit its content creators.
Earlier this week, Instagram announced it was offering paid subscriptions to a small group of influencers., TikTok has confirmed that they are testing something similar.
According to a report by 9to5Mac, the company declined to elaborate on any further info. Therefore, we don’t how impactful this feature will be to common users. Interestingly, the company is letting users give tips to creators, but subscriptions may create a new recurring revenue opportunity as well. This can make the platform even more interesting for certain content creators.
A subscription model for TikTok could mimic Instagram, but it might have to look very different because of the app’s robust For You page algorithm, which has users scrolling on the app for hours without the need to follow individual creators.
TikTok and Instagram’s effort to break into subscription-based creator content signals a move to appeal to influencers and win over their loyalty. TikTok has received complaints from creators who felt they were not receiving adequate compensation through its Creator Fund, which was announced in July and noted their views were declining. The social media giants are joining other platforms like Twitter, Patreon, YouTube, and OnlyFans in offering paid subscriptions for creators.