You have just registered to a particular social media. As you explore the site, you come across a post. You read the caption and find the topic is appealing. However, you can not view the multimedia content. The website asks you to provide your financial information for viewing the picture or videos. You then realize that the content is not viewable to just anybody. It is available for – only verified users or fans at OnlyFans.
What is OnlyFans?
OnlyFans is a revolutionizing social platform that allows artists or creators to get paid for their content from their subscribers or fans. This website is own by Fenix International Limited, based in London. The CEO and the founder, Timothy Stokelybased, envisioned that social media could be a place where artists or creators can make money from their content. Financial support can help motivate them to do what they love. He executed his vision and started the website in 2016.
What makes OnlyFans different from other social media platforms?
OnlyFans is different from other social platforms in various ways. For one thing, most content genres are welcome, if not all. While broadly used social media exclude pornographic pictures or videos, OnlyFans allows their creators to post sexual content.
Popular platforms such as Facebook, Instagram, Twitter, YouTube, TikTok, and WhatsApp let you access the content without requiring financial information or proof of your identity. As long as you do not violate the rules, you can connect with others, view, share, and post pictures and videos free of charge.
OnlyFans, however, requires a valid photo ID and a selfie with the ID to verify your account. To protect OnlyFans’s community, OnlyFans takes copyright and privacy seriously. Hence, you must agree to provide biometric information.
OnlyFans also requires credit/debit card information when you subscribe to any account you want to view the full content. Even if it is a free subscription, you still need to provide the card number.
Unsubscribe users may read what the post is all about, but they cannot view the photos or the video of the person who posted it. So, if they do want to see the digital content, then providing credit/debit card information is a must. The payment method you provide will let you access the full content.
What types of content?
OnlyFans has created many content creators from various categories, such as arts, wellness, fitness, tourism, comedians, and pornography. Adult entertainment, however, is the most popular content that OnlyFans is known for its flame.
In many cases, OnlyFans has become an informant income source for many people during the Covid-19 pandemic, especially for sex workers. Up to this point, they has over one hundred million registered users; over one million content are creators.
How does OnlyFans Works?
You may be familiar with websites that provide video streaming services. Netflix, Hulu, Crunchyroll, Amazon Prime videos, and Crackle, to name a few. The websites allow you to watch many available videos as much as you want when you pay for a monthly subscription. Some website also provides pay per view service. They let the content creators earn money through a very similar method.
Whatmore, fans can tip the service providers for the content they like. Also, because OnlyFans is a social platform, the fans can send direct messages to content creators and vice versa. Some of the free subscribe accounts may rely on tips from their fans or for paid-private messaging. Hence, users are required to set up the payment method upon registering to OnlyFans.
How Much is the Subscription Price?
The subscription price can range from $4.99 to $49.99 a month. The subscription is non-refundable, but the subscriber can cancel the subscription before the next payment.
If You Want to Become a Content Creator
Maybe you are a professional photographer, a makeup artist, a baker, a bartender, a travel enthusiast, a fitness trainer, a DJ, a life coach, or an aspiring comedian. Whatever your profession is, you can also start a channel if you are interested in earning through OnlyFans. It is virtually for everyone. Who knows? You may find someone you admire there. Many celebrities also have an OnlyFans account and start charging their fans for their work.
How Much Can You Earn?
As previously mentioned, the creators can charge for a monthly subscription from $4.99 to $49.99. So, how much you can earn depends on two factors: the subscription price and the number of subscribers.
For example, if you have ten thousand followers from other social platforms ( Facebook, Twitter, or Instagram), some of them may follow you to OnlyFans. They may subscribe to see your exclusive content.
If you set a monthly subscription price to $4.99, your earning may range from $499 to $2,495 a month. Likewise, if you charge your fans $9.99 a month, your revenue may range from $1,001 to $5,000 a month.
(Note: the earning amount is estimated based on one to five percent of followers who subscribe to your OnlyFans account.)
You should also know that it take a 20% cut from the creator’s revenue (subscription, tips, and paid messages). After all, OnlyFans is a site providing business services. In other words, you take eighty percent of what you make.
If You Are a Creator Based in the US
Keep in mind that what you make at OnlyFans is not free money. As a US creator, you will need to keep track of your earning and report your income, whichever the source. If you make over $600 a year, you will receive a copy of the 1099-form that OnlyFans sends to the IRS.
OnlyFans is a subscription-based social media platform providing business services. It allows artists or content creators from various groups to earn money from their fans. Creators take eighty percent of the total revenue, as OnlyFans takes twenty percent for its services. Only verified users are allowed to be on OnlyFans and may subscribe to their favourite account to view the exclusive content, only for fans. To become a verified user, they requires new users to provide a valid photo ID and a selfie with the ID to complete the registration within seventy-two hours. Failing to comply with this process, OnlyFans will promptly close an un-verified account.