An emerging social media platform which has been significantly growing since 2016, it is not present in a form of App but is a website. It allows content creators to post and earn money.
What is Only Fans?
Only fans is web-based content creating website organized from London, United Kingdom. It gives the content creators opportunity to earn money if a user subscriber to the content on “only fans”. The site allows the content creator and artists from all genres to develop an authentic relationship with their fans. Other genre content includes physical fitness experts, musicians and other creators who regular post the stuff online. This allows the content creator to receive money directly through their fans on monthly basis. one time tips and pay per view (PPV) features.
Only fans was founded in September 2016. Its headquarter is in London and owned by Fenix International Limited. Tim Stokely is founder and CEO of Only Fans. Only Fans is not available in the form of app it is in a web form. The content creator can earn money by locking the content behind a paywall only available after subscription. And they can also keep content public for fans and get paid by the option Pay Per View (PPV).
The company allows the content creators to post and monetize content like the post, videos, one on one chats, including porn, that most of the social media does not allow. The fans have to subscribe to see the content, through the collected fees the company pays 80 per cent to the content creator and retaining and remaining 20 per cent processing fees, the company gets 12 per cent charge from it.
The site has over 24 million users registered and pays US$ 725 million to its 450,000 content creators. CEO Tim Stokely claimed that Only Fans receives about 200,000 new users every 24 hours, while 7,000 to 8,000 new content creators join every day.
The site in 2019 introduced a new extra safeguard feature for the verification of the content creator. Through which the content creators has to upload a selfie headshot with their ID with image, to prove that an ID belongs to the account holder.