TikTok is unveiling a new product that will allow publishers to profit from advertisements.
The product, Pulse Premiere, will allow publishers to earn half of the revenue for ads displayed on their posts.
Publisher Conde Nast, who owns magazines Vogue, Vanity Fair, WIRED, GQ, and Golf Digest, is an inaugural partner in the Pulse Premiere program.
“At Condé Nast the power of our brands allows us to create culture-defining content for 1B of the most engaged audiences across many relevant platforms. TikTok has become one of our most valuable partners, providing us with a variety of tools to ensure that our brands are driving these conversations on their platform,” Pam Drucker Mann, global chief revenue officer and president of U.S. Revenue & APAC at Condé Nast, said in a May 3 press release.
“Our advertisers know that culture is the new [key performance indicator], and the Pulse Premiere solution finally enables clients to match media buying with how consumers are consuming our brands, like Vogue, GQ and Vanity Fair, on TikTok.”
The new monetization platform comes at a dire time for online publishers, with Buzzfeed News shutting down and Vice Media filing for bankruptcy.
“It’s about, like, how can we really diversify our portfolio,” Ray Cao, TikTok’s global head of monetization product strategy, told The Wall Street Journal.
The latest move from TikTok comes as the company faces threats of an outright ban in the United States, as previously reported by The Dallas Express.
Last month, Montana became the first state to issue a full ban on the app.
Rolling out new ad features may be a move by TikTok to signal to advertisers that the platform is not going anywhere. Advertisers have remained loyal to the app, as it is expected to grow ad revenue by 36% in 2023, according to the WSJ.
“TikTok is where advertising becomes entertainment, audiences pay attention, and brands drive real impact,” the company said in the press release.
Cao said the goal is to provide more transparency to advertisers around their ad spending, per the WSJ.
TikTok is expected to command 2.5% of total U.S. digital ad spending this year, according to Insider Intelligence.
Other inaugural Pulse Premiere partners include Buzzfeed, NBCUniversal, Vox Media, Dotdash Meredith, Hearst Magazines, MLS, UFC, and WWE, according to the press release.
