01.03 2020 11:16h

Byte is Planning On Paying Its Creators Serious Money

The short-form video sharing platform will be dishing out some serious dosh to its creators in the near future
Social Media, Social Media Updates, Feature, Features, Social Media Addiction, Social media app, Social Media News, Social Media Update, Social media 2020, Social Media campaigns, Content Creator, Content creators, Content Creation, Monetization

The first group of content creators involved in Byte’s partner program will be receiving an offer of $250K in total pay-outs by Byte starting in April, according to The Verge.

Byte’s partner program will be fairly limited as it will only accept up to 100 creators. Content creators will have to apply and be chosen by Byte as the company says it is looking for people who post regularly, create full-screen portrait videos and are positive members of the community, according to The Verge.

The content partners will be paid every 30 days, depending on their viewership. Content creators will be placed into “Viewership Brackets,” which technically means that every content creator in the same bracket will be paid the same amount. However, Byte does not specify how much creators can expect to make from this partnership program, according to The Verge.

Byte is a company that has come from the co-founder of Vine, and this company faces direct competition from TikTok which has become popular at a fast rate over the past year. TikTok allows users to create videos in a similar format to that of Byte’s along with the added feature of licensed music on the platform. However, TikTok offers little to no opportunity for creators to get paid through the platform which would lead to encouraging successful creators to look elsewhere in order to turn their viral fame into a source of revenue, according to The Verge.

Initially the first payment pool of $250K will be spread along four different pay-outs, after these pay-outs Byte will be looking at creating a new payment pool in order to bring in more creators and begin this process once again. Byte is intending to launch new payment pools every 120 days, according to The Verge.

“Our long-term plan is to have a majority of the revenue going to creators, with a minority going to us to help with our operations and business,” Byte wrote last month.

However, for now Byte is putting “100% of ad revenue” towards its Partner Program in order to pay its creators, Byte says. For ads won’t run in front of individual bytes or in users’ feeds.

What are your thoughts? Let us know in the comments below.

Photo Credit: Shutterstock.

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