Shou Zi Chew, chief executive officer of TikTok Inc., speaks during the Bloomberg New Economy Forum in Singapore, on Wednesday, Nov. 16, 2022. The New Economy Forum is being organized by Bloomberg Media Group, a division of Bloomberg LP, the parent company of Bloomberg News. Photographer: Bryan van der Beek/Bloomberg via Getty Images
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TikTok on Tuesday announced another avenue for creators to monetize their videos on the social media app.
The new feature, called Series, will allow select creators to share longer videos that will be available for purchase behind a paywall. Each “Series” can include up to 80 videos that can be as long as 20 minutes each. Individual creators will be able to charge between $0.99 and $189.99 for their paywalled content, a TikTok spokesperson said.
Users have previously only been able to share 15-second, 1-minute, 3-minute or 10-minute videos on TikTok.
The new feature will further heat up the competition with platforms like YouTube — which is known for its long-form videos. But competition between YouTube and TikTok is not new. In August 2021, YouTube introduced YouTube Shorts as a direct alternative to TikTok. Other companies such as Meta and Snap have also introduced short-form video features to try and counter TikTok’s meteoric rise in the U.S.
TikTok said in a release that the Series option is currently available to a select group of creators. The company plans to open up applications for others to enroll in the coming months.
Data privacy concerns have been swirling around TikTok because of its parent company, ByteDance, which is based in China and is privately held.
Last week, the U.S. House Foreign Affairs Committee voted to advance legislation that would give President Joe Biden the authority to ban TikTok. Sen. On Tuesday afternoon, Mark Warner, D-Va., and Sen. John Thune, R-S.D., are set to introduce a new bipartisan bill that will empower the Secretary of Commerce to take action against certain foreign technology companies, including China’s ByteDance.