OnlyFans, a leading adult content platform, has captured significant attention with its impressive financial performance. In 2023, it achieved $6.6 billion in annual revenue, surpassing the combined revenues of emerging AI startups in Silicon Valley. It stands as the UK’s most successful company since DeepMind and one of the most influential content platforms since TikTok.
OnlyFans’ success is highlighted by its substantial revenue distribution. In 2023, the platform allocated $5.3 billion to creators, retaining $649 million in operating profit. Despite not employing recommendation algorithms, virtual AI characters, or AI-related features, the company focuses on protecting creators’ rights and enhancing user choice.
With a 19% revenue increase from the previous year, OnlyFans has grown from $300 million in 2018 to $6.6 billion in 2023. Transaction-based revenue has surged 70%, contributing 88% of total revenue growth, while subscription revenue has only grown 9%. The platform’s revenue is now double that of industry giant Aylo, which owns PornHub and other major brands.
OnlyFans boasts over 300 million registered users, though not all are active or paying. Revenue distribution is highly concentrated among top creators, with the top 0.1% earning significantly more than the top 15%. Despite the platform’s high revenue share of 80%, it avoids app store fees by operating primarily through web browsers, which has not deterred its user base.
The rise of generative AI and competitors, including potential moves by X (formerly Twitter) to enter the adult content space, presents future challenges. The platform’s ability to maintain its dominance will be tested by these emerging alternatives and the evolving demand for authenticity versus AI-generated content.
In 2023, OnlyFans generated $1.3 billion in net revenue and $819 million in gross profit. With an average of 42 employees, the company achieved $31 million in net income and $15.5 million in operating profit per employee. Since 2019, it has paid $1.1 billion in dividends, with $472 million distributed in 2023 alone.
In a recent interview, OnlyFans CEO Keily Blair provided insights into the platform’s stance on content recommendations, AI, and its business model.
Blair clarified that OnlyFans does not use personalized recommendation algorithms or AI-generated avatars. The platform focuses on real creators enhancing their content with AI, while fully AI-generated accounts are not allowed. Blair emphasized that AI’s current risks, including copyright and attribution issues, outweigh its potential benefits.
Blair downplayed the significance of time spent on the platform as a growth metric, noting that OnlyFans does not track the source of its traffic. She highlighted her background in law and cybersecurity rather than user growth strategies.
Blair explained that OnlyFans’ model diverges from ad-driven platforms by aligning closely with creator interests. The platform has paid out $15 billion to creators, with a revenue distribution that sees creators earning $4 for every dollar OnlyFans makes. Blair noted the growing trend of other platforms adopting subscription models but stressed that OnlyFans’ unique value lies in its fair revenue distribution and content ownership by creators.
Blair addressed the platform’s rigorous creator vetting process and commitment to content security, including its stance against role-play involving age suggestion. She asserted that OnlyFans prioritizes creating a safe environment for users and creators, with stringent verification processes to ensure compliance.
Blair expressed optimism about improvements in social media but reaffirmed OnlyFans’ commitment to its model. She highlighted the platform’s proactive approach to security and its unique position in offering a controlled, creator-centric environment.
Source: MatthewBall, Game Quitters
