4 lessons from OnlyFans and it 's Founder, Tim Stokely
You can find almost anything online, including a significant amount of adult content.
Pornography websites have hundreds of millions of visitors every day and have seen a significant increase in traffic during the pandemic p eak.
However, another website featuring pornographic content closed in a template of A similar subion to Patreon also saw a significant increase in traffic.
Today I'm going to talk about OnlyFans - the concept for closed content, it's an amazing growth strategy, and its fascinating founder, Tim Stokely.
In 2011, Stokely spent his time partying around the world and spending his family 's money on business ideas . "Glamworship was one such idea.
The Glamworship website stood out by focusing exclusively on" financial domination, "a sexual fetish in which a "submissive" offers gifts and money to a financial "dominant".
The idea came to Stokely when he fell on subtitles on financial domination. He saw how much money people were spending on these experiences, but not created exclusive content for them.
Funded by tens of thousands of dollars from his family, he then decides to develop Glamworship.
Glamworship viewers offered a large sum of money in exchange for the achievement of their financial fantasies the pread crazy. Artists quickly took advantage of this opportunity and a cameo economy for financial domination began to blossom.
Unfortunately, a newly born mini-economy that took advantage of Twitter and Venmo took place. Users would view the content on Glamworship, contact the artists on Twitter, request a video, pay the artists through Venmo / Paypal, and then receive the video. This effectively allowed users to bypass the fees that generated profits for Glamworship.
This strategy did not work well with Stokely, so he shut down Glamworship and has started a new venture in a continuing attempt to create a commercial offering of exclusive content.
Instead that users independently find artists on Twitter, contacting them and arranging payments inan unreliable industry, Customs4u took care of all the work.
However, many artists were not happy with this as it lowered the barrier to entering the industry, saturating the market with new players and making the niche more competitive. As a result, Stokely was never able to develop Customs4u to the scale he envisioned.
Stokely then took a break from the porn business to business and services; he founded 121with as his next business. The concept here was for artisans to sell their craftsmanship through an audio or video call.
121with and Customs4u have both taken advantage of the creator-fan relationship to run their businesses. Unfortunately, like the previous endeavor, 121with failed. Still, he presented a good business model, but not in the right industry.
The debut of OnlyFans
Stokely then returned to the
As Instagram grew in popularity, many adult artists used it to post videos and photos to promote themselves. However, the mainstream social media platforms have banned pornographic content and have often banned users even for line content.
This gave Stokely the idea to create a paid social feed like Instagram or Twitter, where creators can earn money directly from their content.
In 2016, he launched OnlyFans. Here, viewers would pay a subion fee ranging from $ 5 to $ 50 per month to access artist-created content. OnlyFans received 20% of the subion while the creators received the rest.
The experimentsThe knowledge Stokely gathered from his previous business ventures contributed to the success of his new venture. Through Glamworship, for example, the company understood the concept of paying artists directly for special video requests. Meanwhile, OnlyFans 'first customers were from Customs4u, and its business model evolved from 121with.
The early days of OnlyFans revolved around the ability for creators to upload personalized content. By tailoring their content to audience preferences, creators have built closer relationships with their followers.
An effective sponsorship strategy
Tim and the OnlyFans team didn't want anyone on board . They wanted people who could contribute to their success.
Therefore, OnlyFans created an incentive structure aligned withthe platform's objectives to encourage users to recruit the right people. Its main goal was to facilitate referrals by keeping "quality over quantity" in mind.
The OnlyFans referral program has rewarded its members with a lifetime income share of 5%.
If you recruit, for example, someone who earns $ 100,000 a year on OnlyFans and keeps it on the platform for five years, the company will pay you $ 25,000.
It is this incentive structure that has led the creators to use the referral program as well as to encourage others to join the platform. form.
Make use of Twitter
Fanscope was the first product developed by OnlyFans to help creators take advantage from their Twitter account. It was released just three months after the launch of OnlyFans and the end of thehas set up its payment infrastructure.
Fanscope could be described as a live version of Cameo. Creators can start a Fanscope session through OnlyFans and automatically post the link to their Twitter accounts. The live session then receives exposure from all of their Twitter followers.
To watch the live stream, Twitter followers must click on the link and register with OnlyFans. This strategy attracted more people to OnlyFans because it lowered the barriers to entry. New users can see what they can expect from an OnlyFans page without investing any money.
Stable and predictable growth
In Unlike other live platforms, OnlyFans viewed adult performers as assets, so instead of banning them, the company empowered them. As a result, they never restrictedt their content but instead encouraged the creation of unique content.
In 2018, Leo Radvinsky, a Ukrainian-American web entrepreneur who had built a fortune with a site called MyFreeCams, was able to buy 75% of OnlyFans. After that, the business continued to grow steadily.
OnlyFan's success increased dramatically in 2020 when celebrities started making it. Beyonce naming him in her song and Cardi B joining the platform are some of the events that have accelerated her growth.
So far, OnlyFans has paid more than $ 3 billion to its creators and over 120 million viewers have joined the site.
To this day, the vast majority of the creators of OnlyFans are adult artists. The company, however, began to invest in a new branding to attract a larger audience.
This year they created a £ 20,000 ($ 27,800) creation fund to help four aspiring musicians launch their careers.
Whether they will succeed in their attempt to reach the mainstream market is a topic we will have for another day.
4 Lessons From OnlyFans
1. Tim Stokely had several failures before the success of OnlyFans. Most "overnight success " take years.
2. If something isn 't favored by the larger market, there is an opportunity for business. Tim focused on a marginalized market segment that was launched on other social platforms, and gave them a platform and a community.
3. Get your customers to sell for you. OnlyFans launched a very lucrative sponsorship strategy that brought people to their platform.
4. If you don 't give up, the time will finally be right. Tim has started several businesses, each of which could have coincided with a global pandemic event, but they did not. and failed for
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