Yahoo Finance Aussie tradie's insane payday in TikTok side hustle: '$18,000 in one week'
Kane has found a niche in TikTok live streaming and he can make thousands of dollars a day.
A former FIFO tradie has revealed how he managed to pull in thousands of dollars in just one week at his bizarre new job. Kane Terence had a "massive accident" when he used to be a fly in fly out worker and has now pivoted to civil construction in Brisbane.
But in his spare time, he live streams on TikTok and can earn incredible amounts of money. Professional content creators have told Yahoo Finance that it's hard to make a living off the social media app because the Creator Fund or Creativity Program isn't available in Australia, but Terence attracts money in another way.
His niche is live streaming.
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He'll post regularly to his account, where he has more than 18,000 followers, but said TikTok will send him a notification saying, 'Go live now', and that's when he'll fire up a live stream.
The tradie explained that the 'go live' notification usually kicks in when the TikTok algorithm prioritises his video in certain countries.
Terence said the areas that usually pop off for him are Syria, Canada and America.
Sometimes he only makes $1 a day off the live streaming and others he's earned $3,000. His biggest week was a whopping $18,000.
How do you make money off a TikTok live stream?
No doubt many will be asking this after seeing how much you can make from live streaming on TikTok.
Sadly, Terence didn't reveal the main source of the money behind his side hustle, but one avenue is through live gifts.
TikTok users can buy gifts with their cold, hard cash and send them to creators who go live. You might have seen TikTok live streams where roses, galaxies or ice cream cones flash onto the screen - those are gifts being given to creators from users.
Think of gifts like tips, and they range wildly in price. There are plenty of gifts that will only set you back about 2 cents each, while the most expensive gift, a TikTok universe, costs AUD$850 each.
"LIVE Gifts is one of the features that allows creators to collect Diamonds, which are awarded based on the popularity of your LIVE," TikTok says.
"Once you collect Diamonds, you may obtain a reward payment from us, such as money or virtual items."
Diamonds are worth 50 per cent of the value of coins, but TikTok also retains 50 per cent of what you earn.
To get access to this, a creator has to:
Live in a location where LIVE Gifts is available (like Australia).
Be 18 years of age or older (or 19 in South Korea)
Be eligible to go LIVE.
Have an account that is in good standing and adheres to TikTok's Community Guidelines and Terms of Service.
You can also make money during TikTok live streams by getting sponsorship deals, affiliate products, or selling your merchandise.
What is the TikTok Creator Fund and Creativity Program?
In 2020, TikTok launched a remuneration program in the US, UK, Germany, Italy, France, and Spain called the Creator Fund.
It paid users if they hit certain targets on their videos and the social media app said it would give out around $1 billion under the initiative.
Some creators revealed they’d earned enough from just one video to pay for two months of rent.
However, the Fund was shut down late last year and was replaced with the Creativity Program, which promised to offer “up to 20 times the amount previously offered by the Creator Fund”.
Sadly for Aussies, it's not available here.
The Creativity Program prioritises “high-quality videos” longer than one minute and the reward is calculated on qualified views and average gross revenue per 1,000 qualified views. This is based on video engagement, content authenticity, the region in which your video is viewed, as well as adherence to the community guidelines and terms of service.
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