The pandemic pushed OnlyFans economics to a staggering 120 million fans who spent a sloppy $2.3 billion in transactions last year. OnlyFans isn’t only for sex workers and porn stars anymore. It has become Hollywood’s pandemic side hustle.
You can compare it to the Zoom or Netflix effect. Companies that both realized massive subscription growth during the pandemic.
Lockdown love seems no different. Of course not, sex sells. Always. However, what would we see if we were a bit less judgmental? If we would look at it with an open mind?
Every saint has a past, and every sinner has a future.
OnlyFans has been described as an alternative to NSFW Snapchat or the paywall of porn.
Many documentaries showed OnlyFans as a platform where sexy girls with big butts, adult entertainers, and influencers are selling subscription content to fans. The platform is also popular in the gay community.
But what did hit machine artist Beyoncé sing about the platform? Why has rapper and songwriter Cardi B – who became an Internet celebrity by achieving popularity on Vine and Instagram – embraced OnlyFans?
What can marketing, social media professionals, and artist managers learn about monetizing fan relationships and social media followers?
You might want to bookmark this story.
OnlyFans Economics? 120 Million Fans Willing To Pay For Artist Content
People have joked about OnlyFans a lot. But the platform has been moving beyond just a paywall for porn. Some facts?
With lockdowns, quarantines, and curfews, bored consumers went online seeking entertainment. Guess what? Out-of-work entertainers turned up to provide it.
It pushed the number of subscribers at OnlyFans from 20 million pre-pandemic to 120 million today! User growth mainly came from Latin America and Europe.
The UK-based company launched in 2016 and it has around 1 million-plus content creators. To date, OF had paid them over $3 billion, outpacing other platforms of the creator economy, including Substack, Patreon, and Cameo.
Transactions on the platform rose seven-fold to over $2.3 billion last year. The companies’ profit is expected to rise above $400 million this year. Who’s laughing now?
OnlyFans allows content creators like artists, YouTubers, and increasingly stars from the worlds of fitness and music – to sell photos, video clips, messages, and articles directly to fans.
Content that is too spicy for TikTok or Instagram for example. Fans pay between $5 and $50 a month. OF takes a 20% cut of payments.
There are 300 creators on OF who earned more than $1 million. This is Spartaaaaa?!
The OF platform is moving up from being an adult-only platform to being a mainstream platform.
OnlyFans Chief Executive Tim Stokely said: “We have no plans to shut down adult creators.”
So, you can still let it all out.
Monetize Fan Relations & Flip The Funnel? OnlyFans vs. Facebook’s Fans on Lease & Big Tech Censorships
OnlyFans moved up from sex sells to content sells. It takes a 20% cut from content creators, whilst Apple and other walled gardens are taking 30%.
It coined a gap in the market and it revealed the weak spot of Facebook and other Fans on Lease social networks. Platforms that have been squeezing the organic reach of online superstars dramatically.
YouTube has been censoring way too much content lately. It has also pulled entire Channels offline. What about freedom of speech? How about artist creativity?
If I say “fuck” live on stage, will YouTube next ban my keynote on video? With our Talkshow Live on Stage TV, we helped events and brands to make the needed Covid-Pivots. Guess what? YouTube censored our content! WTF? Covid-Pivot is a scary word?
If artists and artists managers have learned one thing during this pandemic? Take back control of your:
- Content & Media
- Fan Relationships
- Social Media Followers
Move away from fans on lease. Own your fan relationships. Host your own content.
You cannot rely on or trust Big Tech. They own your fans and your content.
Look at what NFTs can do for artists. I will write about it soon.
I can’t stress it enough. Take action now.
Is OnlyFans Hollywood’s New Side Hustle? From Beyoncé, Cardi B To OnlyFans TV
OnlyFans moved towards a mainstream last year when superstar Beyoncé name-dropped TikTok, OnlyFans, and ‘Demon Time’ in the Megan Thee Stallion – Savage Remix. You can listen to the Bey lyrics here:
Rapper Cardi B opened her OF account. For US$4.99 a month, fans can see behind-the-scenes and exclusive content. No, not that exclusive!
Many other celebrities have opened up accounts. You might be surprised.
It also seems that OnlyFans has become Hollywood’s pandemic side hustle. More celebrities are flocking to the platform. Coincidence or not? OFTV was recently launched. On the Apple platform and on the Roku Channel.
The new OFTV subscription-based channel offers access to media and entertainment from creators of all kinds. Hollywood stars and OFTV, might be an award-winning combination.
I would not be surprised to see OF explicit digital art being auctioned for millions of dollars via NFTs soon.
OnlyFans still has a 20% VAT issue which needs to be solved. But when fix that, they might be acquired by a bigger platform player.
The platform economy keeps growing and I will cover more “hidden gems” in the coming period. Subscribe to my newsletter to be the first to know.
Having read this story, what’s your opinion now? Can or will you utilize OnlyFans to monetize your fan relationships or social media followings?
Or should I ask, how can you apply the OnlyFans mechanism to your own(ed) fan base? How will you move away from fans on lease?
I look forward to reading your ideas in the comments below.
About the Author
In the spotlights, Igor Beuker is a professional public speaker and futurist known for his foresight on trends and technologies that impact business, economy, and society. Behind the scenes, a social entrepreneur with 5 exits and angel investments in 24 social startups, an award-winning marketing strategist for brands like Amazon, L’Oréal, Nike, and Unilever, and a seer for Fortune 500s, organizations, foundations, and governments.