OnlyFans is quietly up for sale for a reported price of $8 billion (£5.9 billion). But the social media site, where "creators" post mostly sexual content for paying subscribers, could be worth much more, said the Financial Times, if it could shift from being "not safe for work entertainment" to being "less edgy". Its business model, which takes a 20% fee from video makers, is versatile and scalable, much like others that trade in user-generated content, such as Reddit and Roblox.
'Betting on reinvention' OnlyFans was founded in 2016 and grew rapidly during the pandemic. In the year to November 2023, it generated revenues of $6.6 billion (£4.8 billion). But tighter regulation of adult content in some US states has made investors wary. Any buyer would be "betting on reinvention, or at least diversification", said the FT – a transition that OnlyFans is attempting by luring chefs and fitness influencers to post.
A stock market flotation is also being considered but, again, the platform's reputation is a hindrance, with reports of child-abuse material and non-consensual pornography being posted on the site. In March, OnlyFans was fined just over £1 million by UK telecommunications regulator Ofcom for failing to provide accurate information about how it was implementing age checks.
'Fame equaliser' Some non-celebrity creators defend OnlyFans for giving them autonomy and the opportunity to earn millions, although the average annual payout is about $1,300 (£950) per creator, according to Mashable. This potential is explored in Rufi Thorpe's comic novel "Margo's Got Money Troubles", in which a single mother turns to OnlyFans as a creatively fulfilling and financially rewarding lifeline. The platform represents "a way out" for the characters, said Nick Hornby in The New York Times.
The platform is a "fame equaliser, allowing unknown individuals to rise to prominence and build a large fanbase", said The Independent. But OnlyFans also normalises the "commodification of a person's body, sexuality, and privacy", with creators becoming "globally known for performing sexual stunts that, until recently, would only have been conceived of in the farthest extremes of pornography". |