Bhubaneswar, July 30 -- San Francisco: TikTok has now raised the ante in the social media war with a plan to offer creators $2 billion globally in the next three years as it fights rivals like Instagram and YouTube.

The TikTok move comes after the media said Instagram is reportedly offering financial incentives to some popular TikTok creators in a bid to make them use Reels, a video-music remix feature that the Facebook-owned platform plans to unveil next month in the US.

In an update on Wednesday, TikTok said that its Creator Fund is expected to grow to over $1 billion in the US in the next three years, and more than double that globally.

TikTok said that it will be sharing more information about the application process soon.

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