What Is OnlyFans? We Explain Here
OnlyFans has a market with singers, chefs, and fitness instructors in addition to pornographic producers, both amateur and professional, who utilise it the most frequently. The business deducts 20% from each transaction completed on the website. OnlyFans does not charge designers using Teespring to market their goods on the website.
In exchange for a monthly subscription fee, performers can offer clips and images to fans on the platform OnlyFans, which was introduced in November 2016. Tim Stokely and his older brother Thomas launched the business with the help of a £10,000 loan from their father Guy Stokely, who warned them that it would be their final venture. While his father oversees OnlyFans’ finances, his brother currently serves as the organisation’s chief operations officer.
Time included OnlyFans in its list of the 100 most influential companies in the world in April 2021.
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The “primary drivers” of OnlyFan’s initial growth were both amateur and professional sex workers. When singer-actress Bella Thorne and rapper Cardi B joined the website, it saw more growth. During the Australian wild bushfires in January 2020, Kaylen Ward started a trend on OnlyFans where authors would give free explicit content in exchange for documentation of charitable contributions.
The COVID-19 epidemic and the ensuing lockdowns had a big influence on OnlyFans’ development. Before this increase, there were 7.5 million users. Between March and April 2020, the number of new user and creator accounts surged by 75%. Personal trainers, gamers, musicians, and fashion influencers were among the several types of content producers.
OnlyFans had 85 million users and over a million creators by the end of 2020. By March 2021, OnlyFans had more than 120 million users, and its creators had made $3 billion in total. According to OnlyFans, it gives creators more than $200 million each month. They attained a $1 billion corporate valuation in 2021. Its revenue increased from $350 million the year before to around $900 million in 2021. Dividends paid to the owner Leonid Radvinsky totaled $500 million during the course of about two years, from 2021 to 2022.
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In 2021, OnlyFans quietly debuted OFTV, an app and streaming platform that features a selection of its appropriate for work material. Professional boxer Floyd Mayweather Jr., DJ Khaled, Fat Joe, and Terrell Owens all joined OnlyFans in the same year. Model Farmers, a reality television programme with Becky Houze as the host, debuted on OFTV in 2022. Cummings also registered for an account on the main OnlyFans website.
OnlyFans introduced a creative fund in March 2021 with Stefflon Don serving on the selection committee to provide £20,000 awards to four up-and-coming UK bands. Law Roach, Sir John, and Maeve Reilly served as the judges; the winner received $50,000, while the runners-up and third-place finishers each received $25,000 each. In the UK and Ireland, a four-part Comedy Edition of the show with a comparable prize pool will premiere in 2023. The judges will be Sofie Hagen, London Hughes, and Jamali Maddix. Jack Guinness will serve as the host.