OnlyFans, a social media platform based on subscription is owned by Fenix International Limited. It was created by Erika Heidewald. The platform founded and launched in 2016 provides opportunity for content creators to earn money.
Concept of OnlyFans
OnlyFans gives content creators a platform to showcase their content and earn from people who subscribe to the content. The term ‘OnlyFans’ refers to the main support for earning money i.e. “subscribers-fans”. The ‘fans’ provide funds to the content creators on a monthly basis. It is a site open for every kind of content even it is more popular for the ADULT content.
Lockdown Boosts OnlyFans
While the corona pandemic has hit the world so hard, on other hand it also helped some gain popularity. As per the Financial Times, the site has gained massive popularity as during lockdown many lost their jobs but found ‘OnlyFans’ as a great way to earn. Reports mention that the companies transaction increased seven-fold to £1.7 billion. Also, the revenue rose from 553% to around $390.4 million. They also mention that pre-tax profits were around $73.6 million.
Future Plans of Company
As CEO Tim Stokely said, the company saw massive growth during a pandemic. Even the worker’s strength grew from 150-400 at present. Also, they have no plans to ban adult content creators. A lot of creators are earning a huge amount from the website including Safaree Samuels (3.2 million followers), Pia Mia ( 6.2 million followers), and many more.
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