On this photograph representation, the OnlyFans emblem is displayed on a smartphone.
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AMSTERDAM — OnlyFans isn’t experiencing a slowdown in subscribers like Netflix at the same time as other folks grapple with emerging costs, executives on the corporate stated Tuesday.
“We are not experiencing that slowdown,” Keily Blair, OnlyFans’ leader technique and operations officer, informed journalists on the Cash 20/20 fintech convention in Amsterdam.
In April, Netflix stated subscriber numbers dropped by way of 200,000 within the first quarter, marking the primary time the streaming platform has reported a decline in paid customers in additional than a decade.
Netflix is dealing with a slew of demanding situations — now not least the reopening of economies after two years of Covid lockdowns. Inflation additionally poses a key possibility to the industry, as individuals are having to stability their budgets to take care of emerging prices.
OnlyFans has a “utterly other industry type” to Netflix, stated Lee Taylor, the company’s leader monetary officer. Netflix is “competing in an overly saturated marketplace,” he added, together with huge tech corporations like Amazon and standard media gamers like Disney, which has its personal streaming provider, Disney Plus.
While Netflix and different tech corporations have laid off personnel in contemporary weeks, OnlyFans is continuous to develop, Taylor stated, with its workforce expanding 2% to a few% each and every month. OnlyFans has over 1,000 workers globally.
“We’re conscious about the price of residing disaster,” OnlyFans’ finance leader stated. “We’re development a workforce within the U.Okay. to lend a hand our creators maximize their income.”
OnlyFans is not precisely a reputation you’ll related to fintech — the corporate made a reputation for itself providing beginner grownup content material creators a solution to earn cash via subscriptions.
Blair stated OnlyFans was once attending Cash 20/20 to deal with “false impression” about its emblem and “take keep watch over of our personal narrative.” OnlyFans has constructed up a large bills industry, in step with Taylor, and not too long ago processed $18 million in payouts to creators in one day.
Ultimate 12 months, OnlyFans confronted intense backlash from its customers over a choice to prohibit pornography — a plan the company due to this fact determined to drop. Months later, OnlyFans co-founder Tim Stokely resigned.
“We more or less broke the web after we stated we had been going to switch our appropriate use coverage,” Blair stated.
Taylor admitted he underestimated the “energy” of OnlyFans’ writer neighborhood.
“It was once clearly a difficult time,” he stated. “The item I am happy with probably the most is how briefly we had been in a position to opposite it.”
The platform has sought to department out into different spaces of content material past porn, an business that has had a clumsy dating with the mainstream monetary global. In 2020, Mastercard and Visa stated they would chop ties with Pornhub, the most important porn web page, over allegations that it hosted kid sexual abuse subject matter.