This feature could be used by musicians as part of TikTok's creator community, and it highlights how social media is evolving in terms of monetizing creators.
A few things to note:
- TikTok users spent $914.4 million within the app during Q3 2022 on virtual coins and creator-level subscriptions.
- Reports suggest that TikTok is working on a feature that will enable creators to charge a fee for viewers to access their videos.
- This highlights how social media is evolving in terms of monetizing creators and suggests potential developments in the music streaming industry.
- In the music streaming industry, free, ad-supported tiers and subscription services are the norm, but efforts to monetize superfan spending are primarily limited to merch and tickets.
- As TikTok continues to develop paywalled posts and introduce new ways for fans to spend money on their favorite creators, a culture shift is occurring.
- There's a growing trend of musicians exploring new ways to monetize their work beyond traditional means, and it's only a matter of time before these concepts start to cross over to music streaming in a more significant way.