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In brief: OnlyFans, the content subscription service that lets creators earn money from paying “fans,” exploded in popularity during the pandemic as bored consumers flocked to the site during lockdown and out-of-work entertainers were happy to earn their business.
The London-based company told the Financial Times that for the year to November, transactions increased seven-fold to £1.7 billion, or $2.4 billion. Revenue, meanwhile, shot up 553 percent to around $390.4 million while pre-tax profits were roughly $73.6 million.
OnlyFans launched in 2016 but didn’t really skyrocket in popularity until early last year. Before the pandemic, the company employed around 150 workers but now, more than 400 people are on the payroll.
While the site caters to all sorts of content creators, it is arguably best known as a platform for people to sell adult content. And despite what you might have heard recently, CEO Tim Stokely told the publication they have no plans to shut down adult creators.
The company’s creators wouldn’t reveal the top earners but said north of 300 creators have earned more than $1 million. In a recent piece for Cinema Blend, former Boy Meets World actress Maitland Ward said she is bringing in over six figures each month from OnlyFans.