OnlyFans is a content subscription service based in London, United Kingdom.[3] Content creators can earn money from users who subscribe to their content—the “fans”.[4] It is popular with sex workers[5] but also hosts content creators from other genres such as physical fitness experts, musicians and other creators who post regularly online.[6] It allows content creators to receive funding directly from their fans on a monthly basis as well as one-time tips and the pay-per-view (PPV) feature.[7]
A fan of a content creator can view their content for a monthly subscription fee.[8] The company pays 80% of the fees collected to the content creator, retaining the remaining 20%.[9] After merchant and processing fees, the company’s share is around 12%.
OnlyFans was launched in 2016[10] as a platform for performers to provide clips and photos to followers for a monthly subscription fee. Little is known about the parent company, Fenix International Ltd.[5] Two years later, Leonid Radvinsky, owner of MyFreeCams, acquired 75% ownership of Fenix and became its director.[11][12] In 2019, OnlyFans introduced an extra safeguard into the account verification process so that a creator now has to provide a selfie headshot with their ID in the image in order to prove that the ID provided belongs to the account holder.[13]
As of April 2020, OnlyFans was valued at between $810,000,000 and $936,000,000, though estimates are difficult to ascertain as the company does not release its aggregate level data.[14] The site has over 24 million registered users and claims to have paid out US$725 million to its 450,000 content creators.[15] CEO Tim Stokely claimed OnlyFans receives “about 200,000 new users every 24 hours and 7,000 to 8,000 new creators joining every day.”[16]
OnlyFans has a partnership with Demon Time social media show to create a monetized virtual night club using the site’s dual-screen live feature.[17]
In January 2020, 20-year-old American Kaylen Ward raised more than US$1 million in contributions to charity during the wild bushfires in Australia. OnlyFans teamed with her for their first partnership for a charitable cause.[18] This started a trend with some OnlyFans creators who have been raising money through their accounts.[19]
Source: https://en.wikipedia.org/wiki/OnlyFans
