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Can Artists Be Successful on TikTok?
TikTok is currently the fastest rising social media application. It’s currently available in over 150 countries and has an estimated one billion monthly active users as of February 2021. The platform is ideal for artists who are targeting the 13–40 year old demographic. These individuals open the app an average of eight times daily, spending around 52 minutes per day on the platform.
Thanks to this vast audience, the app generated $500 million in revenue from the US alone in 2020. In fact, its Q4 2019 revenue was 300% greater than its Q4 2018 figures. The money is coming in by waves to the extent that TikTok even pays influencers $500 just to join the app. It’s also started a Creator Fund worth $1 billion to strengthen the presence of its creators. There’s also a Creator Marketplace where brands can search for creators with whom to work.
With its in-platform engagement and user base increasing, TikTok’s top creators are raking in large sums of money. Addison Rae makes $5 million annually through partnerships, while Charli D’Amelio earns $4 million. They are two of only six creators with at least 50 million followers. While it does pay to have more followers, you don’t have to attract these kinds of numbers to succeed on TikTok. Once you find a fan base that will patronize your creations, you can start building your brand.