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OnlyFans not seeing Netflix-like slowdown in subscriptions, CFO says


This photo illustrates the OnlyFans logo on a smartphone.

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AMSTERDAM — OnlyFans is not experiencing a slowdown in subscribers like NetflixExecutives at the company spoke Tuesday, despite rising prices.

Keily Blair, chief strategy and operations officer at OnlyFans, stated that the company is not suffering from a slowdown. He spoke to reporters during Money 20/20’s fintech conference, Amsterdam.

This April NetflixThe streaming service reported that subscribers fell by 200 000 in its first quarter. This is the first such decline for paid users since at least a decade.

Netflix is facing a slew of challenges — not least the reopening of economies after two years of Covid lockdowns. The business is also at risk from inflation, which means that people will have to adjust their budgets in order to meet rising prices.

Lee Taylor, chief financial officer of OnlyFans, stated that the company has a “completely new business model” than Netflix. He said that Netflix was “competing” in a highly saturated market, which includes large tech companies like Google and Amazon. AmazonAnd traditional media players, like DisneyDisney Plus is a streaming service that Disney has created.

Taylor explained that while Netflix and other tech companies have been cutting staff recently, OnlyFans has continued to grow with its team growing 2% to 33% every month. OnlyFans is home to over 1000 employees around the world.

OnlyFans’ chief finance officer stated, “We are acutely aware of the crisis in cost of living.” To help our creators maximise their earnings, we are building a team here in the U.K.

OnlyFans isn’t exactly a name you’d associated with fintech — the company made a name for itself offering amateur adult content creators a way to make money through subscriptions.

Blair stated that OnlyFans attended Money 20/20 in order to correct “misconceptions” and take control of its own story. Taylor said that OnlyFans had built up an impressive payments business. They recently paid $18 million to creators.

Last year, OnlyFans faced intense backlash from its users over a decision to ban pornography — a plan the firm subsequently decided to drop. Tim Stokely was cofounder of OnlyFans. He resigned several months later.

Blair stated, “We sort of broke the Internet when we claimed we would change our acceptable usage policy.”

Taylor acknowledged that he underestimated OnlyFans creator community’s “strength”.

“It wasn’t easy,” he stated. “The most impressive thing about it is how fast we were capable of reversing it.”

It has tried to diversify beyond porn into content that isn’t based on mainstream finance, which has been an uneasy relationship for the industry. 2020 MastercardAnd VisaThey stated that they would cut ties with PornhubThe largest porn website,. It was accused of hosting child sexual abuse material.