Have you ever thought about creating a TikTok? Chances are, if you're a freelancer, you've heard all the hype around TikTok and wondered if it would be a good investment of your time.
While there are plenty of resources that highlight the high earning potential on social media platforms such as YouTube and Instagram, there is little transparency around earnings on TikTok.
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However, as the platform grew with time spent on the app, going from 442.9 minutes in October 2019 to 858 minutes in March 2020, you will have opportunities to earn a living in TikTok.
Estimates suggest that a TikTok content creator with 100K followers can earn an average of $200 to $1000 USD per month. A TikTok content creator with more than 1 million followers can earn an average of $1000 to $5000 per month.
Additionally, popular influencers like Jorden Ray, Addison Rae, Charli D'Amelio, Brent Rivera, and Cassey Ho managed to win thousands of dollars through a combination of brand sponsorships, live streams, merchandise sales and brand promotion. platform.
However, you're probably wondering, how viable are these gains, and is this something within everyone's reach? Let's find out by taking a deeper look at the different monetization avenues on TikTok.
Currently, there are several ways to earn money on TikTok. Here is a breakdown of the most common methods to increase earnings on the platform.
1. live streams
Live streaming is one of the fastest growing sectors, with year-over-year growth of 113% compared to year-over-year growth of 30% for long-form videos and 9% for short videos.
While you need at least 1,000 followers to go live on TikTok, once you build that audience it can be a great way to engage your audience and sell your wares.
2. merchandise sales
Another option is to use TikTok as a platform to build and promote your brand to sell merchandise.
3. brand sponsorships
Brand sponsorships are another way you can earn money on TikTok. With the rise of online consumption, brands are willing to pay you anywhere from $200 to $20,000 per promo video if you have a sizable target audience for their product.
4. multiplatform promotion
Cross-platform promotion is crucial to increasing audience. Most content creators have a preferred platform when it comes to monetization, however, they still utilize other platforms to grow their audience.
If you already have a successful YouTube channel or Instagram account, you can reach a wider audience by promoting your content through other platforms like TikTok.
5. Growing and selling accounts
For talented content creators with successful TikTok accounts, there are more opportunities than ever to profitably monetize that knowledge. Emerging content creators, small businesses and agencies are all looking for help to authentically increase follower and audience engagement.
Therefore, it is possible to make a living providing consulting services or selling high quality accounts to individuals, companies or agencies at considerable profit. Estimates suggest you can charge anywhere from $500 to $1000 for an account with 50k to 100k followers.
How much do TikTok influencers earn per view?
Tiktok influencers are mostly paid based on the number of likes, views and comments on their sponsored videos. Sponsored ads usually pay influencers per 1000 views.
So if an influencer earns an average of $450 per half a million views, then they will earn approximately $0.9 per 1000 views.
How much do TikTok influencers earn per post?
Also, videos dedicated to brand sponsorships can earn up to $1,000 for a single post with 100K views, and videos dedicated to app sponsorships can earn from $100 to $100 250.
Is TikTok profitable?
Averages suggest you can probably make $200 to $1000 monthly with 100k followers and $1000 to $5000 monthly with 1+ million followers on the platform. Additionally, it is possible to increase these earnings by selling merchandise, providing affiliate links, and promoting your other social media accounts.
