OnlyFans, the subscription adult entertainment site, blew up the pandemic.
The UK-based company’s revenue increased by 553% in the year through November 2020 and spent 1. 7 billion pounds ($2. 36 billion) on the site, an increase of seven times, the Financial Times reported.
It allows creators to sell video clips, images and messages directly to subscribers through pay-as-you-go, and OnlyFans has a 20% discount. Customers pay between $5 and $50 depending on the month.
The company’s tax earnings reached millions of pounds ($74 million), according to the FT.
CEO Tim Stokely, who ran the UK-based company in 2016 with his father, told the FT that he hoped that the earnings before tax would succeed at three hundred million pounds ($417 million) in the next monetary year.
OnlyFans has revolutionized the conventional porn industry, where manufacturers pay performers a package for reusable content and has allowed creators to monetize their fans on social media. More than three hundred creators make more than a million dollars, Stokely told the FT.
The platform is more productive known for its adult content, however celebrities, musicians and fitness instructors are also creating accounts to monetize their online fan base. Singer Cardi B joined the platform last August to get a percentage of behind-the-scenes music video images. Chris Robshaw gives percentages of fitness tips.
Stokely commented on the possibility of including the company at the request of the FT.