Thread by @Telegraph

OnlyFans is on track for almost $1bn in revenue this year after spending climbed 400% during the pandemic

telegraph.co.uk/technology/202…

The subscription-for-content company is a hit with mostly female creators who began making large monthly incomes by charging customers for:

⭐ Suggestive photos and videos
⭐ Online companionship along with lingerie selfies

A banker’s son who studied property and real estate at @AngliaRuskin, Tim Stokely attempted five businesses before launching OnlyFans in 2016

His first entrepreneurial endeavour was in school, where he would collect orders for the fish and chip shop, marking up the cost to deliver.

After graduating he created an online fetish service where customers could request adult photos and videos directly from amateur models

In 2018, he received an email from Leo Radvinsky, a @NorthwesternU graduate who built one of the pornography industry’s largest adult chat websites MyFreeCams.

Radvinsky provided cash and a wealth of experience in taking a brand global in return for 75% of the company

Creators say they like OnlyFans because they get a fair cut. Bella Thorne, a 22-year-old former Disney star, broke OnlyFans records when she made $1m in one day after promising subscribers she would send a “nude” for $200

It is not just big names making money.

⭐ Jasmine Rice, 23, began earning $35,000 a month after signing up in March 2020

⭐ Gracey Kay, a 32-year-old mother from Leeds, made double her £18,000 yearly salary as a hairdresser in just one month

His association with adult entertainment has led Stokely to be called a “digital pimp.”

Images from his early 20s have surfaced of him clubbing in Ibiza with busty women. He doesn’t think the label is fair, hitting back at the “old narrative” that all adult work is exploitation

“There are more than 300 creators who have made more than $1m, which is a great success story. And we are moving beyond just adult entertainment looking at the creative economy. We have had a bit of a bashing but I think it comes with the territory”

Adult content is a lucrative business but its presence on the website means OnlyFans is banned from:

⭐ Google
⭐ Apple’s app stores

To diversify, Stokely has added sports stars like former England flanker @jameshaskell and boxer @TonyBellew to the roster

Stokely has also been talking to Ofcom to discuss the upcoming Online Harms Bill.

"I think it is great that the UK is taking a lead in these issues but as a global social media company we would like to see a global approach from governments to provide something consistent"

Then there is the raft of historical unpaid tax investigations to deal with.

Stokely is working with HMRC to work out how much sales tax it owes on the subscriptions customers pay. Australia, Europe and the US have also slapped the company with a hefty tax bill

But the opportunities could be huge. As musicians like @iamcardib, @fatjoe and @djkhaled join the platform, Stokely doesn't rule out a potential record label acquisitions in the future.

"That's not something in our immediate plans but we have seen huge growth in music"

Even with busy times ahead - and a team that has shot up from four to 400 in five years, Stokely has his heart on one thing in the near future.

“All I want is to spend the afternoon in a beer garden with my friends. I can’t wait for a mixture of alcohol and Vitamin D"