What is OnlyFans?
The COVID-19 period has caused job losses across all industries, but it has had a big impact on freelance workers, including influencers.
There may be a few people reading this who are cynical about influencers and what they do, and you might be right in some cases. But influencers are basically content creators who help brands with original marketing, and when done well, it works.
Although OnlyFans was developed in 2016, the app has exploded during the COVID-19 period as influencers are doing all that they can to earn some money. The premise of OnlyFans is simply a social media platform which allows influencers to charge a subscription fee, between $5 and $50 (with a commission of 20% taken by the platform), for their content. So, only fans can view it and and support the influencer— get it?
It has earned a bad wrap, especially recently, because it has become a prolific place for sex workers to do what influencers do. I mean, they’re losing money at the moment too with social distancing and all, and this can provide some income in the meantime. OnlyFans also has an option for paid private messaging so that regular private services can continue albeit virtually, meaning more money for the account holder.
As of April 7, the platform had 7,000,000 users, 60,000 of which are content creators making an income off the pay-per-view system. Founder Tim Stokely claimed then that 3,000 new users register weekly and 1,000 per hour. However, on a post on the platform’s Facebook page on May 6, the company claims to have 30,000,000 users.
OnlyFans’ user stats as of May 6th, 2020.
OnlyFans also provides an appropriate portal for those seeking fame, fortune and attention. It’s a platform to be validated in financial reimbursement— take a photo and have people pay you to take more. It’s the kind of craving of validation seen previously on shows like Big Brother or more recently MAFS, especially in the aftermath of being on the show.
Generally, the app promotes itself as a platform for anyone, promoting work by DJs, comedians and personal trainers, despite most knowing it for its more debaucherous side. The app hasn’t seemed to have released any stats about its user base, likely because a large percentage of their account holders generally cause varying levels of controversy anyway. And for a business that has exploded into public view so quickly, bad press is not what they’d be after.
So, how do this affect brand relationships? Will brands forgo working with influencers who use the platform knowing the content available on the site? Has the vetting process just become one step longer?
There could be a benefit to OnlyFans being used for very refined marketing. If a content creator’s “true” fans are paying to view exclusive content (often this is the case, where what is on OnlyFans is different content to that on Instagram), could the audience not be attuned to the right brand’s target market?
The only downfall to brands investigating the app is that an account must be made to view content and discover the breadth of influencers using it. OnlyFans has set up a marketing advice page to help brands interested, though it doesn’t seem 100% OnlyFans specific so far: https://onlyfans.com/onlyfansmarketing. You can also check out the blog for more info prior to signing up: https://blog.onlyfans.com/
Is it the future for brands and influencers? The potential for influencers using Only Fans to be paid by their followers as well as their fee to work with brands could be the loophole content creators have been looking for to earn the respect they have wanted from people in the industry and wider community for so long.
Will we see a more professional version of Only Fans, perhaps along the lines of Tribe, who combine the two: an individual platform for influencers to create and build a following, as well as the management side? Time, money and x will tell.