Launched in 2016, OnlyFans is a social media platform, similar to Patreon, that allows influencers and creators to monetize their content by sharing it with other users who pay a monthly subscription fee. The main difference between Patreon and OnlyFans is that OnlyFans allows for NSFW and adult content.
With unemployment on the rise as a result of Covid-19, more and more people are trying to make an income online during the economic downturn. In relation to this, the New York times wrote an article about how OnlyFans has forever changed sex work. OnlyFans is making this kind of work more accessible with almost no prerequisites to producing adult content.
Both users and creators can remain anonymous. Creators can avoid showing their face, not use their real name etc.
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Any payment on OnlyFans is done through a secure third party, so your card details will not be stored on the site. Any earnings received from an OnlyFans account will be shown as "Fenix Internet LLC" on any bank statements.
Once you have created your account you can either begin posting content, or start subscribing to other users. You will need to add a payment method before you subscribe. If you are producing content, then you will need to add this so that you can receive payment from your subscribers.
Note: OnlyFans takes a 20% cut of any earnings.
The revenue of an OnlyFans content creator can vary depending on the quality and quantity of content that they produce. If a creator is producing regular content then there is more incentive for users to subscribe. Some of the highest earners get $100,000 a year.
Creators initially receive money through subscriptions. For example if you have 100 subscribers who each pay a minimum of $5 per month, then that would give you $500. Minus the 20% cut from OnlyFans and you would have $400.
Users can request specific photos, videos or commissions (for artists) from creators - who then ultimately decide whether or not they want to fulfil a request. This type of content typically generates more revenue.
Finally, creators can also charge for private messages which allow for direct personal conversations between creator and follower.