In this video I will talk about what OnlyFans is, how some are making millions per month on it, and what numbers are available for us to consider in case OnlyFans goes public. OnlyFans is in talks to raise funds in a move that will see the company valued at over $1 billion. But will it survive the post-pandemic effect and competitors such as Twitter's Super Follow feature? You can find the full video below.
What is OnlyFans?
OnlyFans maintains a subscription model that favors individual creators, just like Patreon. It takes a 20% commission. It focuses on adult entertainment, but that's not the platform's sole target. Creators of every kind have used OnlyFans to grow their audiences and earn income by sharing gated photos and videos. Content creators on OnlyFans include professional boxer Floyd Mayweather and rapper Cardi B.
Noncelebrity creators include artists, chefs, and fitness instructors. But the platform is famous for its user-generated explicit adult content. For example, Bella Thorne earned more than $1 million in her first 24 hours on the platform. Social media influencer and gamer Corrina Kopf reportedly earned over $1 million in her first 48 hours. But not everyone makes millions on the platform.
Advertising
OnlyFans made $400 million in revenue last year from its 20% commission on $2 billion in sales. But it has yet to prove its staying power beyond the stay-at-home entertainment hype of the pandemic. However, it was rising steadily beforehand.
OnlyFans, unlike social media platforms Facebook and Twitter, does not rely on advertising because some advertisers may not want to be associated with it, but there is potential to attract a different kind of advertiser. I believe once people realize OnlyFans is not just adult content, advertising dollars will flow into the platform.
OnlyFans by the numbers
In 2019, OnlyFans reportedly had 60,000 content creators. This number grew to more than 1 million by the end of 2020. In 2019, OnlyFans reportedly reached 7 million registered users. However, today it is reported that OnlyFans now has more than 100 million registered users.
According to XSRUS, accounts earn a median of about $180/month. However, XSRUS adds that these calculations exclude tipping. The top 1% of accounts make 33% of the money, and the top 10% of accounts make 73% of the money. By the end of 2020, OnlyFans had paid out over $2 billion to creators.
More insights in the video below.
*Stock prices used were the closing prices of July 9, 2021. The video was published on July 11, 2021.
