Shou Zi Chew, chief government officer of TikTok Inc., speaks through the Bloomberg New Economy Forum in Singapore, on Wednesday, Nov. 16, 2022. The New Economy Forum is being organized by Bloomberg Media Group, a division of Bloomberg LP, the father or mother firm of Bloomberg News. Photographer: Bryan van der Beek/Bloomberg through Getty Images
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TikTok on Tuesday introduced one other avenue for creators to monetize their movies on the social media app.
The new function, known as Series, will enable choose creators to share longer movies that shall be accessible for buy behind a paywall. Each “Series” can embody as much as 80 movies that may be so long as 20 minutes every. Individual creators will be capable to cost between $0.99 and $189.99 for his or her paywalled content material, a TikTok spokesperson mentioned.
Users have beforehand solely been capable of share 15-second, 1-minute, 3-minute or 10-minute movies on TikTok.
The new function will additional warmth up the competitors with platforms like YouTube — which is thought for its long-form movies. But competitors between YouTube and TikTok isn’t new. In August 2021, YouTube launched YouTube Shorts as a direct different to TikTok. Other firms reminiscent of Meta and Snap have additionally launched short-form video options to attempt to counter TikTok’s meteoric rise within the U.S.
TikTok mentioned in a launch that the Series possibility is presently accessible to a choose group of creators. The firm plans to open up functions for others to enroll within the coming months.
Data privateness issues have been swirling round TikTok due to its father or mother firm, ByteDance, which relies in China and is privately held.
Last week, the U.S. House Foreign Affairs Committee voted to advance laws that might give President Joe Biden the authority to ban TikTok. Sen. On Tuesday afternoon, Mark Warner, D-Va., and Sen. John Thune, R-S.D., are set to introduce a brand new bipartisan invoice that may empower the Secretary of Commerce to take motion in opposition to sure international expertise firms, together with China’s ByteDance.
Source: www.cnbc.com