Shou Zi Chew, chief govt officer of TikTok Inc., speaks in the course of the Bloomberg New Financial system Discussion board in Singapore, on Wednesday, Nov. 16, 2022. The New Economic climate Discussion board is staying organized by Bloomberg Media Group, a division of Bloomberg LP, the father or mother business of Bloomberg News. Photographer: Bryan van der Beek/Bloomberg via Getty Photos
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TikTok on Tuesday announced an additional avenue for creators to monetize their video clips on the social media application.
The new element, referred to as Collection, will allow for decide on creators to share lengthier video clips that will be offered for order driving a paywall. Every “Collection” can involve up to 80 video clips that can be as prolonged as 20 minutes just about every. Specific creators will be able to demand between $.99 and $189.99 for their paywalled information, a TikTok spokesperson claimed.
End users have formerly only been equipped to share 15-second, 1-moment, 3-minute or 10-minute videos on TikTok.
The new element will further more heat up the level of competition with platforms like YouTube — which is recognized for its extended-sort videos. But opposition among YouTube and TikTok is not new. In August 2021, YouTube released YouTube Shorts as a direct option to TikTok. Other corporations these kinds of as Meta and Snap have also released quick-kind movie features to test and counter TikTok’s meteoric rise in the U.S.
TikTok said in a release that the Series selection is at the moment readily available to a choose group of creators. The business plans to open up applications for many others to enroll in the coming months.
Information privacy problems have been swirling close to TikTok due to the fact of its parent company, ByteDance, which is dependent in China and is privately held.
Previous week, the U.S. House Foreign Affairs Committee voted to progress legislation that would 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 established to introduce a new bipartisan monthly bill that will empower the Secretary of Commerce to acquire action towards sure overseas technological innovation firms, like China’s ByteDance.
