How TikTok influencers can safeguard their incomes amid legislative uncertainty
Recent legislative changes have left some of TikTok’s 170 million U.S. users feeling apprehensive about the future of their income streams.
The U.S. House of Representatives, acting on concerns that TikTok’s current ownership is a national security threat, recently passed a bill that would ban TikTok nationwide unless the company’s China-based owner sells its stake.
If Congress also passes the measure, President Biden has said he will sign the bill into law, according to the Associated Press.
TIKTOK VIDEO FROM LONDON DENTIST GOES VIRAL FOR REVEALING 3 TIMES YOU SHOULD NOT BRUSH YOUR TEETH
TikTok influencers can protect their incomes by diversifying their platforms, building strong partnerships with brands and creating their own product line.
TikTok income
Some famous content creators who got their start on TikTok, such as Charli D'Amelio and Addison Rae, are now multimillionaires. In 2021, D'Amelio was the highest-earning TikToker, making $17.5 million from her Hulu show, brand deals and clothing brand, according to Forbes.
Even the average U.S. TikTok influencer is doing well compared to the national average, raking in an average of $131,874 a year, or $63 an hour, according to ZipRecruiter. U.S. TikTok influencers can make as little as $68,500 or as much as $228,500 a year.
Diversifying online presence
When social media platforms have shut down in the past, creators found new ways to make money and retain their followings.
After the popular video app Vine was discontinued in 2017, many Vine stars flocked to other platforms such as Instagram and YouTube and continued to make videos. Famous creator King Bach, ranked on Business Insider's 2016 list of the world's top Vine stars, today has 26 million Instagram followers who he creates videos for.
TIKTOK CEO TELLS USERS 'PROTECT YOUR CONSTITUTIONAL RIGHTS' AGAINST TIKTOK BAN IN VIDEO
TikTok influencers can take a similar approach by diversifying their presence across multiple social media platforms such as Instagram and YouTube, which each have billions of users. In addition to the benefit of having a secondary or tertiary platform where your followers can keep up with you, these platforms offer a range of opportunities for monetization.
For example, Instagram can offer payouts for ads on Instagram Reels, and Instagram Subscriptions lets creators charge their followers a monthly fee for access to exclusive content.
YouTube allows creators to directly monetize their videos, and the average annual pay for famous YouTubers in the U.S. is $62,052 a year, according to ZipRecruiter.
Annual YouTube creator incomes can be as high as $97,000, making it a valuable platform to post on.
Brand collaborations and sponsorships
Fostering strong partnerships with brands is also a useful way for TikTok influencers to protect their incomes. Influencers, many of whom have thousands or millions of loyal followers, can be an attractive choice for brands seeking promotion. Putting your eggs in multiple baskets by collaborating with a range of brands will also help mitigate the risk of being too dependent on one sole source of income. When working with brands, it is important to also be transparent with your followers to preserve your authenticity and their trust.
Product creation
Launching a product can also be a great income stream for TikTok influencers. For instance, TikToker Addison Rae launched a makeup line called Item Beauty, while TikTokers Charli D'Amelio and her sister, Dixie D'Amelio, created a clothing line called Social Tourist.
By identifying a demand within their specific following, TikTokers can create a product that can help them make money.
This could include physical products like clothing or makeup or could be a digital product like an e-book or online course.