Smith 
TikTok has taken the world by storm since its release in 2018, with almost 100 million active users each month and an astonishing two billion downloads worldwide. Its rapid rise in popularity hasn’t gone unnoticed, even catching the eye of President Trump, who considered banning it in the U.S. over national security worries. With all this attention, many wonder if it’s possible to make money on TikTok. If you’re growing your following and curious about monetizing, here’s the lowdown.
Why Making Money on TikTok Is Getting Easier
In TikTok’s early days, monetizing wasn’t common because there were hardly any branded posts. But as more brands have jumped on board, it’s become easier to snag sponsorships and earn money. The amount you can earn varies, but viral content can be very lucrative. TikTok has also made it simpler to monetize without brand deals. They teamed up with Teespring in August 2020, allowing creators to sell merchandise straight to their fans through the app. With TikTok’s popularity soaring, brands are eager to partner with creators who have substantial followings.
How to Monetize Your TikTok
Monetizing your TikTok is a fresh way to earn money online, and here are some paths you can take:
Audio Sponsorships
Music and sound clips often go viral on TikTok, like Lil Nas X’s “Old Town Road.” Aspiring artists pay TikTok influencers to feature their tunes in videos. For instance, creator Skylar Krupa charges $25 per 25,000 followers to showcase music.
Product Sales
You can directly sell merchandise to your audience, thanks to TikTok’s partnership with Teespring, which offers 180 customizable products for creators to sell. Some creators also add links in their bios to personal websites or merchandise platforms.
Promote a Business or Brand
Besides audio sponsorships, creators can help brands or businesses by promoting their products. An early example is Mucinex, which launched a #BeatTheZombieFunk challenge, partnering with influencers to boost their brand.
Get Paid by TikTok
TikTok aims to help its top creators succeed with a $200 million Creator Fund, set to grow to $1 billion by 2023. Although details on eligibility and payout amounts are still vague, insiders suggest you may need around 10,000 followers and 10,000 views in the last 30 days. Creators can apply for the fund directly through their profiles if they meet the requirements.
Convert Gifts to Diamonds
Creators can also earn money from live streams where fans send virtual gifts, which can be converted into “diamonds” (TikTok’s virtual credits) and then cashed out through PayPal.
How Much Money Can You Earn on TikTok
Earnings on TikTok can vary widely. Some estimates suggest that creators with 100,000 followers can earn between $500 to $2,000 for sponsored videos. Top creators might earn $50,000 to $150,000 per sponsored post. Agencies also estimate that brands pay between $0.01 to $0.02 per video view.
Making Money on TikTok vs Instagram and YouTube
YouTube pays creators from ad revenues, while TikTok and Instagram rely heavily on brand sponsorships. This means you need to build relationships with brands and convince them that your content is worth sponsoring. While this might be slower, it also opens doors to higher earnings in the long run.
Using TikTok as a Side Hustle
TikTok is gaining in popularity and offering more ways to earn money. If you’re creative and willing to build your audience, it can be a rewarding side hustle. Although TikTok involves understanding its unique culture, it generally requires less investment in high production values than platforms like YouTube or Instagram.
The Bottom Line – How to Make Money on TikTok
TikTok’s rapid growth has created many monetization opportunities. With the rise in sponsored content, creators can make money through various methods like audio sponsorships, direct product sales, brand promotions, or TikTok’s Creator Fund. Success on TikTok requires dedication and a good grasp of the platform’s culture, but its relaxed production demands make it a great option for those looking to make money online.
