OnlyFans (Photo: via Instagram)
#Roommates, during the pandemic, popular adult platform OnlyFans became one of the few companies that continued to make millions, as people all over the world were in quarantine and used it as a way to make money—well that could be changing very soon. According to recent reports, OnlyFans is seeking to completely move away from its adult content entirely in order to become more mainstream, but in order to do so, the company is looking for billions in funding.
@Bloomberg reports, OnlyFans built its name and reputation as a website where celebrities and adult-film stars charge their fans a fee for access to videos and photos primarily featuring adult content—however, if the company is successful in its current business endeavors, all that is about to change. In an effort to raise money for new funding at a company valuation of more than $1 billion, OnlyFans is seeking investors to help it pivot away from adult content and move into a more mainstream media platform.
OnlyFans now wants to be an online space where a wide range of celebrities can connect with their fans without the element of adult content. The company also wants to attract more high-profile advertisers and acknowledges that in order to do this, the pornography relationship of the site will need to be removed so it won’t limit its financial future. In 2020 alone, OnlyFans racked up over $2 billion in sales—and after the company deducted its standard 20% fee, that number translated to more than $400 million in revenue.
Despite the company wanting to leave its adult content behind, it is currently still growing at a rate of over 100%, according to inside sources. Previously, OnlyFans stated that to date, more than $3 billion has been paid to the estimated 1.3 million creators on its platform of over 130 million users.
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