OnlyFans to move away from adult content in bid to reach $1B valuation 1 month ago

OnlyFans to move away from adult content in bid to reach $1B valuation

The 18+ nature and connotations of the brand is putting off big-name brands from advertising on the platform.

OnlyFans is attempting to attract new investors and brands by moving away from its reputation for adult content and material as it aims to reach a $1 billion valuation.

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Bloomberg reports that the company is particularly focusing on getting more athletes and celebrities on the site, along with other backers who can help it become a more mainstream media platform and lessen its reputation for porn and NSFW content.

The London-based website has seen astronomical growth in the last year and a half, with the platform growing at a rate of 100% a year, with more than 100 million users.

Some celebs and athletes are already a part of the platform, with ex-boxer Floyd Mayweather, rapper Cardi B and actress Bella Thorne all having accounts on the website.

After Mayweather joined the site, founder Tim Stokely said: "Athletes are a creator genre we're seeing a lot of growth in."

At the time, Mayweather said that he was "looking forward to sharing a glimpse into my life and some never-before-seen content while getting to know top fans."

The idea around getting more celebrities and recognisable names on the site is that fans would be able to pay to get a view into the personal and everyday lives of their favourite people, and where celebrities can connect with their biggest fans.

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Last year, OnlyFans handled more than $2 billion in sales. The site takes a 20% fee from this, meaning that it generated over $400 million in revenue.

Whilst you do have to be 18 or over to join the site, Stokely has said that this is only for payment reasons.

However, he admitted in an interview with GQ that because of the age restriction, the site has been able to "have more progressive and liberal content policies than other social media platforms."