OnlyFans, the subscription platform that grew during the pandemic due to an influx of adult entertainment, is rebranding.
Key Details
- Subscription-based platform OnlyFans was created in 2016 with flexible policies that caused it to grow quickly into a site based around adult content.
- The pandemic sent OnlyFans numbers rising. The platform generated $932 million in revenue in 2021—an increase of 160% from 2020.
- In 2021, it became one of the UK’s fastest-growing tech firms, but the platform decided to ban adult content saying banks were banning accounts for adult entertainers.
- A new CEO quickly reversed the decision and rebranded the company. OnlyFans still supports workers of all kinds but now wants to be known as more than just an adult website.
Why it’s news
OnlyFans has become a household name since the pandemic, and most people think of the same thing when they hear the name—adult entertainment. The new CEO of OnlyFans, Amrapali Gan, is changing that.
During the pandemic, most adult entertainers moved to subscription-based OnlyFans to continue working while being stuck indoors. The influx of both creators and users caused the platform to rise considerably.
The platform earned $932 million in revenue in 2021, up 160% from 2020. The platform differed from others because it only took 20% of the cut from its creators. In 2021, more than 2 million creators took in nearly $4 billion in earnings from the platform.
Before CEO Gan took over the company, something happened that the platform’s creators feared was coming—a ban on adult entertainment that helped the company get its start.
Founder and then CEO Tim Stokely blamed banks for blocking payments to adult entertainers. The decision caused a tremendous backlash, and the company ultimately reversed the decision saying it had worked out a plan with financial institutions, although it was never disclosed what the plan was.
That is when the new CEO, Gan, stepped in. After the brief ban on adult workers, many creators were reluctant to return to the site, and Gan decided to rebrand the company to be creator focused.
OnlyFans became about creators, not just adult workers, but any type of creator. The company was open to entertainers of all kinds, encouraging chefs, sports players, and celebrities to make accounts on the platform.
The platform doesn’t promote adult content but allows adult creators to promote their accounts on other platforms, such as Instagram or Twitter. This enables users to be on OnlyFans and not see only adult entertainment, making it safe for others to enjoy.
The platform is still working on becoming less adult-oriented and broadening its audiences, and it is working, but it still has some time to go.
