How to Make Money on TikTok in 2024: 5 Proven Methods to Monetize Your Account

With its immense popularity, TikTok has opened up opportunities for creators to earn money through different strategies. Here are some effective ways to monetize your content on the platform.

In recent years, TikTok has become a highly popular social media platform. This has allowed influencers such as Charli and Dixie D’Amelio, Addison Rae, and Noah Beck to earn income simply by people watching their videos.

Given the high volume of traffic on the app and the potential to reach larger audiences, numerous creators are curious about the possibility of earning money from their content. However, were you aware that there are multiple ways to monetize your TikTok content?

Table of Contents

TikTok creativity program
Sponsorships
Coins and gifts
Selling and promoting products through TikTok shop
Collecting tips

Earning Money Through the TikTok Creativity Program

In 2023, the TikTok Creator Fund was substituted with the TikTok creativity program, which aimed to simplify the process of earning money for creators. Under this program, creators are able to earn a decent amount of money for every video that is over one minute in length.

The fund offers creators the opportunity to earn money from their content through the app, however, certain criteria must be met in order to qualify.

The TikTok Newsroom announced that the platform has reduced the requirements for effects monetization eligibility in a recent post on their website.

Previously, creators were required to have 500,000 videos featuring their effects, but now TikTok only requires 5 effects to be published, with at least 3 of them being used in 1,000 videos.

To be eligible, you must fulfill the following criteria:

Be based in the US, UK, Germany, Japan, South Korea, France, or Brazil.
Be at least 18 years of age
Have 10,000 followers or over
Have 100,000 video views within the past 30 days
Post original content that’s at least one minute long
Be active and fit within TikTok’s community guidelines

After meeting the necessary requirements, you can submit your application through the Pro/Creator Account feature on the TikTok app.

The earnings for each video and creator will vary. This is determined by a range of factors, such as the number of views, level of engagement, and adherence to community guidelines.

According to them, the amount one can receive changes daily depending on the quantity of content published by the community.

How to Earn Money Through Sponsorships

Sponsorships are a major source of income for TikTok sensations such as Addison Rae and Charli D’Amelio. Addison has collaborated with notable brands like Disney, American Eagle, and Daniel Wellington, while Charli has formed partnerships with companies like Dunkin’ Donuts.

Charli D'Amelio poses with her own signature Dunkin' Donuts drink. — Rachel Murray/Dunkin’ via Getty Images

The star has had a range of brand opportunities.

Although these are undoubtedly enormous corporations and may not be within reach for beginner creators, companies of all scales are constantly seeking methods to advertise their products on TikTok.

By including a business contact email in your profile, you are signaling to companies that you are interested in promoting products to your TikTok audience. As your account gains more followers, the potential for promotional opportunities will also increase.

Ways to make money with TikTok coins and gifts

Similar to platforms like Twitch, TikTok has also introduced its own Virtual Items program, enabling users to send gifts to their preferred creators.

Through their TikTok profile, users have the option to buy different quantities of coins which can then be used to purchase Gifts. These Gifts consist of various emotes that can be given to creators during live streams.

If a viewer sends you a Gift, you will receive Diamonds as a result. These Diamonds can later be converted into real money.

Despite its slightly complex nature, this method offers followers an excellent opportunity to support your content and express their gratitude for you directly through the app.

TikTok offers a diverse selection of gifts at various price points. With approximately 100 gifts to choose from, prices start as low as $0.012 (equivalent to 5 virtual TikTok coins) and go up to $500 (equivalent to 35,000 TikTok coins).

To check your balance:

Open TikTok and navigate to the profile tab.
To access settings, click the three lines located in the top right corner.
To check the number of Diamonds you have or withdraw them, click on the “balance”tab and then select “LIVE Gifts”.

Although you may not see immediate monetary success when beginning your TikTok career, the platform is continuously implementing new and simpler methods for creators of all levels to earn from their content.

Sell and Promote Products Through the TikTok Shop

In 2023, TikTok launched the TikTok shop, an e-commerce platform that allows brands to market and sell their products to the large user base of TikTok. In exchange, sellers receive a 5% commission on their sales.

Additionally, creators can utilize TikTok Shop to endorse particular brands and products by including links to featured items in their videos, proving that it is not only advantageous for businesses.

Furthermore, there is a chance to generate income by becoming a TikTok Affiliate. By utilizing the Affiliate Program, you can advertise brands that align with your audience and receive a percentage of the profits from any resulting purchases.

Tips for Collecting on TikTok

If your audience enjoys your content, they have the option to send tips directly through your TikTok profile. You will receive the full tip amount, with the exception of the Stripe processing fee.

To begin collecting tips on TikTok, you must first meet the eligibility requirements set by the platform. This includes being at least 18 years old and having a minimum of 100,000 followers.

Many TikTok creators also opt to reuse their live streams by uploading them onto YouTube for content, as it is known to be one of the highest-paying platforms for creators. This can be achieved by either uploading shorter clips from your videos onto YouTube or by producing longer, edited versions.