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It’s official: OnlyFans is an absolute money-making machine with an incredible profit margin for a company with only 350 employees. TheInformation.com reports that the social media site, which started as a forum for adult performers to sell content, is now looked at as the darling of emerging tech companies based on the financial numbers.
According to TheInformation.com and Bloomberg, OnlyFans will finish 2020 with the following financials:
- $400 million in revenue
- $300 million in profit
The $300 million in profits will be “before accounting for expenses like income taxes, amortization and depreciation,” The Information reports. For perspective, DoorDash went public in November and recorded $885 million in revenue during 2019 with a $667 million loss. Again, that’s a LOSS.
Earlier this month, Bloomberg called OnlyFans a “Billion-Dollar Media Giant Hiding in Plain Sight.”
“I like that it only takes 20%, which is much lower than the prior industry standard of a 50% minimum,” Aella Jones, a popular OnlyFans star, told Bloomberg. “I like that it’s much more strategic and disconnected than live camming was; live camming requires very high energy, personable charm, whereas OnlyFans really rewards things like good marketing ability and clever pricing techniques. I also get to interact with my fans throughout the day for very low effort, instead of having to put a lot of time in to get ready to do a full ‘show.’”
While the initial idea was to give adult performers a place to sell content, Hollywood and other social content creators are following the cash and creating accounts. Actress Bella Thorne has spent several months of 2020 catching heat for what some adult performers say is the destruction of their businesses. In August, Thorne was accused of ruining the site after new rules were instituted to cap the price that could be charged for single posts.
“Everyone jumping on OnlyFans but I took the hit for doing it firsttttt coooool,” Thorne said on Instagram in December. “Legit everyone in my newsfeed following in my footsteps. But when I was getting heat y’all were scared. This keeps happening to me hahahah.”
Thorne, while ruining OnlyFans for the adult performers who turned the site into a behemoth, may truly have broken the ice for other quasi-celebs who have not opened up shop at the once-taboo site. Celebrities such as Cardi B, Jordyn Woods, Blac Chyna, Tana Mongeau, Amber Rose smell cash in the air and have opened accounts.
Think they’re dumb all you want. Thorne reportedly earned $1 million in 24 hours after starting her account.