OnlyFans, the platform for sex workers and celebrities to sell subscription content, has boomed during the pandemic, taking it from fewer than 20m users before Covid-19 struck to more than 120m.
The service allows content creators to sell video clips, messages and articles direct to fans who pay between $5 and $50 a month.
To boost viewings, the company is branching into TV. It’s producing a show called ‘Unlocked’, which ‘dives deep into the personal lives’ of OnlyFans creators who, aside from sex workers, increasingly include influencers from the worlds of fitness and music. The platform has more than 300 creators who earn more than $1m and the company expects pre-tax profits to be more than £300m in the next financial year.
The size of revenues and growth rate suggests OnlyFans could have a multibillion-pound valuation if it went public, making it one of the UK’s leading tech companies. But the Middlesex-based company remains closely held.
Chief executive Tim Stokely, 37, and his father Guy, 77, a former Barclays investment banker, established the website in 2016. The pair would not comment on future plans for any sale or flotation, saying only that the company was focused on growth, especially in Latin America and mainland Europe.
Source; Financial Times