TikTok to allow creators to sell collections of long-format videos
(Reuters) - Chinese short-video sharing app TikTok said on Tuesday it will allow some creators to produce collections of longer videos and charge their audience a premium for access, opening up a new channel of monetization for its users.
Its new offering "Series" will allow eligible creators to put collections of up to 80 videos, each about 20 minutes long behind a paywall. Currently, the allowed length of a video on TikTok is up to 10 minutes.
TikTok, which has disrupted the social media space largely dominated by Meta Platforms Inc's Facebook and Instagram with its short-form videos and a sophisticated recommendation engine, is now taking a shot at YouTube.
TikTok said its users are increasingly coming to the platform for content like must-know spreadsheet shortcuts, workout routines and recipe guides, areas where YouTube still remains the dominant destination.
It is not clear whether TikTok will take a cut from the creators. The company already offers its creators the ability to receive tips and gifts, as well as manages a fund to incentivize them to grow their audience.
TikTok, owned by China's ByteDance, hit 1 billion monthly active users in September 2021 and has not reported its user base since. In comparison, Facebook had nearly 3 billion monthly active users as of December 2022.
(Reporting by Yuvraj Malik in Bengaluru; Editing by Shinjini Ganguli)