LONDON, UK – OnlyFans, the UK-based subscription platform that has redefined the media and adult content industries, continues to show staggering financial growth, according to new disclosures.
In 2024, the platform generated $6.3 billion in gross revenues—an astronomical increase from $300 million just five years ago.
As one of the most lucrative companies founded in the UK since DeepMind in 2010, OnlyFans has cemented its position as a leader in the creator economy. It outpaces traditional players like Aylo (formerly MindGeek) and is emerging as a cultural and financial powerhouse.
Massive Revenue Surge Driven by Transactions
In the fiscal year of 2023 alone, OnlyFans’ revenues grew by 19%, adding $1.1 billion in new revenue—a continuation of its pandemic-era growth.
While the platform initially grew on the back of subscription services, transactional spending has taken center stage, accounting for over 60% of consumer spending.
These transactions, which often involve add-ons like private messages and exclusive content, have surged by 70% since 2021, vastly outpacing the relatively modest 9% growth in subscription revenues during the same period.
Notably, OnlyFans has managed to dominate the adult entertainment market, now boasting revenues double that of Aylo, the company behind well-known adult sites such as PornHub and Brazzers.
The platform currently has over 300 million registered users, though it has not disclosed the number of paying subscribers or active users.
Brand Growth and Content Diversification
OnlyFans’ success is due in part to its growing brand awareness and the entrance of high-profile celebrities like Cardi B, Bella Thorne, Denise Richards, and DJ Khaled.
These creators, some of whom do not offer explicit content, have helped OnlyFans expand beyond its initial adult-content focus, carving out niches in music, fitness, and more.
Contributing to OnlyFans’ dominance is the regulatory crackdown on other platforms, such as Reddit and Tumblr, which have banned pornography.
These regulatory shifts, combined with increasing know-your-customer (KYC) requirements across competitors, have allowed OnlyFans to pull ahead.
Moreover, many top creators treat social media platforms like Instagram, TikTok, and Twitter as “front doors” to redirect users to their paid OnlyFans content, further boosting the platform’s visibility without direct competition from these services.
Revenue Sharing and Creator Autonomy
A significant factor driving OnlyFans’ success is its high 80% revenue share rate, far outpacing the returns creators might receive working for traditional production companies or agencies.
This structure has attracted a wide range of creators, allowing them to earn more while maintaining greater control over their content and personal brand.
Over the past five years, creators have collectively earned over $15 billion through the platform, with $5.3 billion paid out in 2023 alone.
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However, much like other creator platforms, the wealth is heavily concentrated. The top 0.1% of creators make significantly more than the average, with some elite accounts earning millions annually.
For example, Bhad Bhabie, a top creator, reportedly grossed over $70 million, with more than half of that revenue generated from personalized, paid messages with individual users.
Profitability and Efficiency
Despite sharing 80% of its gross revenue with creators, OnlyFans has posted impressive profits.
In 2023, the platform recorded $1.3 billion in net revenue, with an operating profit of $649 million.
The company operates with remarkable efficiency, boasting an average of just 42 employees in 2023.
This translates to a staggering $31 million in net revenue per employee, far exceeding tech giants like Amazon, Google, and Apple.
Challenges and the Future of the Platform
Although OnlyFans has enjoyed an unparalleled rise, it faces new challenges, particularly from the rise of Generative AI.
AI-generated content, which can create personalized and even interactive experiences, poses a potential threat to the platform’s model of “authentic,” parasocial creator relationships.
AI-driven content creators, available in every language and timezone, might eventually compete with human creators for attention and revenue.
Additionally, Elon Musk’s X platform (formerly Twitter) lifted its ban on pornography in June 2024 and has launched a paid subscription model, potentially encroaching on OnlyFans’ territory.
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As the landscape evolves, OnlyFans’ next steps—whether further diversifying its creator base or integrating new technologies—will determine its ability to maintain its dominance in the creator economy.
For now, however, OnlyFans remains a financial and cultural juggernaut, reshaping the boundaries of media and creator monetization.
