Rs. 100-crore creator fund will be launched by MX TakaTak to provide users with incentives to create engaging content for the short video app.
MX TakaTak counts Dailyhunt’s Josh and ShareChat’s Moj as rivals and was released earlier this year following the ban on the popular Chinese short video app TikTok.
As almost a dozen businesses jostle to fill the slot vacated by the Chinese social media phenomenon, local short video apps are vying to draw top-ranking content creators.
All Indian people and creators who regularly post original videos or have unique content ideas across various categories such as education, technology, sports, art, entertainment, fashion and makeup, travel and photography will be open to the MX TakaTak Creator Fund.
Creators will receive daily incentives based on different performance parameters for their work, such as content uniqueness, validity, viewpoints, interaction and followers, the company said.
Also, a select few young writers will receive a venture fund to assist them on the site with storey ideas that have a social impact.
Through the fund, to stay dedicated and linked to their audience, creators would be able to earn more, thereby making great quality content, according to the company.
“Karan Bedi, CEO, MX Player, which owns MX TakaTak, said, “We hope that the creator fund will not only reward them but also encourage them to continue making impactful content, create an inspiring digital career, and help give back to the community we all benefit from. MX Player is a Times Internet company which also publishes The Economic Times and is part of The Times of India Group.
These results after 6 months prove that players with deep pockets are faring really well in the market by luring the creators with money and spending money to keep the users engaged.
Times Internet is one such player which owns two of these apps- MX Takatak and Gaana Hotshots. Times Internet is maintaining its control over the content, music streaming and now short video space.