After retracting its decision to ban pornography from the platform in August last year, Fans Only undergoes the current scenario of tariff increases unscathed, and manages to keep its loyal subscriber network intact. “We are not experiencing slowdowns,” said Keily Blair, director of strategy and operations (CSOO) during Money 20/20, the global fintech event held in Amsterdam, the Netherlands.
Unlike Netflix, which lost 200,000 paying users in the first quarter of 2022, OnlyFans showcases a “completely different business model,” said Lee Taylor, the company’s chief financial officer. According to him, the movie provider is currently competing in a very saturated market and facing heavyweights like Amazon and Disney.
Taking control of your own narrative
Anyone who squints at OnlyFans’ participation in an event for fintechs forgets that pornography is a huge market in the digital world. So much so that, according to Blair, his possible withdrawal from the platform last year kind of “broke” the internet. The CEO’s head cost co-founder Tim Stokely.
So, as CSOO admits, OnlyFans’ participation in Money 20/20 seeks to address “misunderstandings” about the brand as well as “taking control of our own narrative”, says the executive. In addition to this, the social network has built a solid payments business that has been paying off recently, according to Taylor. US$18 million (R$88 million) to its creators in a single day.
The company has sought to diversify other content areas and continues to recruit unlike other tech companies. Taylor says OnlyFans is growing between 2% and 3% each month and now has more than 1,000 employees worldwide.
Source: Tec Mundo
