A subscriber to a content creator can view his/her content in exchange for a monthly membership fee. The company pays 80% of the fees collected to the content creator, with the remaining 20% retained by OnlyFans. After merchant and processing fees, the company's share is around 12%.
History
OnlyFans was launched in 2016 as a website for social media performers to allow their followers to subscribe for a monthly fee to see clips and photos. Little is known about the parent company, Fenix International Limited. In October 2018, Leonid Radvinsky, owner of MyFreeCams, became a person of significant control with over 75% ownership of parent company, Fenix International Limited. He became a director in November 2018. In late May 2019, OnlyFans introduced an extra safeguard into the account verification process so that a creator now has to provide a selfie headshot with their ID in the image in order to prove that the ID provided belongs to the account holder. In April 2020, BBC Three published a documentary and found that on a single day, a third of Twitter profiles globally advertising 'nudes4sale' appeared to belong to underage individuals on various platforms, and many of those used OnlyFans to share their content. As of May 2020, the site has 24 million registered users and claims to have paid out $725 million to its 450,000 content creators. In May 2020, CEO Tim Stokely told BuzzFeed News "the site is seeing about 200,000 new users every 24 hours and 7,000 to 8,000 new creators joining every day." Mid-2020 saw OnlyFans announce a partnership with Demon Time social media show to create a monetized virtual night club using the site's dual-screen live feature. In January 2020, twenty-year-old American Kaylen Ward raised more than $1 million in contributions to charity during the wild bushfires in Australia. OnlyFans teamed with her for their first partnership for a charitable cause. This started a trend with some OnlyFans creators who have been raising money through their accounts. July 2020, Sky News published information that OnlyFans has not paid VAT in the last 3 years, and would likely be heavily penalized by tax authorities. Not paying VAT is a criminal offense in the EU.
Usage
is allowed. In fact, the website is mainly used by pornographic models, both amateur and professional, but it also has a market with chefs, fitness enthusiasts, and musicians.
