TikTok is reportedly looking to introduce a paywall and new Creator Fund 2.0 to its platform in order to attract more users. The move comes after the app's use among US adults plateaued last year and the platform cut its global ad revenue target.
According to The Information, the paywall will allow creators to charge fans $1 or more to view their videos. The Creator Fund 2.0, a new version of the original Creator Fund launched in 2020, will pay creators with more than 100,000 followers. It is expected to launch in March.
In addition to incentivizing creators, the app is also looking to attract older users by introducing professionally-generated content. Currently, only 21% of US adults use the platform, compared to 67% of US teenagers, according to a 2021 and 2022 Pew Research polls, respectively.
TikTok's struggle to attract new users comes in stark contrast to the massive growth the app saw over the pandemic. Its worldwide user base more than doubled between 2019 and 2021, going from 291.4 million to 655.9 million, and it recently claimed to have 1 billion monthly users.
As the platform looks to continue its growth, it remains to be seen whether or not these new features will be successful. It is clear, however, that TikTok is doing everything it can to stay ahead of the competition.