Is It Worth A Shot To Venture Into The Premium Social Media Subscription App Market?

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A little extra cash can always come in handy, don’t you think? Look around yourself, and you’ll inevitably hear job losses, lay-offs, unemployment, and whatnot. With the COVID-19 pandemic adding fuel to the flame, the need for money has aggravated. Makers of the modern world, a.k.a. entrepreneurs have come up with ideas to capitalize and monetize almost everything. Classic examples of the above statement include Uber, Airbnb, and many more on-demand services. 

The pandemic damages are upon us, and there’s no way one can escape untainted. ‘One’ here includes even top-tier celebrities, models, professionals, etc. When celebrities used social media platforms like Facebook, Twitter, etc., to connect with their fanbase, the entire world witnessed the rise of TikTok. Although TikTok was considered an entertainment platform, content creators seldom had a way to generate income. 

Parallelly, the entire world stumbled across a paywall-protected Social Media App, explicitly focusing on erotic content – OnlyFans. The COVID-19 is redefining the functioning of platforms like OnlyFans as content creators from different fields, be it music, dance, acting, etc., are parading towards the platform. One of the greatest advantages of these platforms is the ‘monetization’ strategy. Like every other on-demand app, one needs an object to monetize (cars for Uber, Rooms for Airbnb). In this case, is it one’s own self? 

With questions over ethical values taking rounds, there’s been never-ending traffic in apps like OnlyFans. From an entrepreneurial perspective, is it wise to develop and launch an app like OnlyFans? Read more to find out. 

OnlyFans is Exploding 

The market for premium Social Media App has been on the rise ever since the COVID-19 pandemic. OnlyFans clone has been the market leader and has successfully handled this new wave. 

  • OnlyFans reported a 75% increase in model sign-ups in early April due to widespread lockdown restrictions. 
  • At the beginning of March 2020, OnlyFans had 26 million active users and 350,000 content creators. 
  • These numbers rose massively in the subsequent months. In May, the platform witnessed 200,000 new users and 8000 creators every day. 
  • As of August 2020, the site encompasses 50 million active users and 700,000 content creators. 

These stats signify that the market for celebrity subscription Social Media App is booming, and the trend will continue to grow as creators have identified a way to monetize their content. 

The need for a platform like OnlyFans 

An entrepreneur’s ideas will turn successful if it can answer a single question – ‘what is the need?’ In other words, a platform without lucrative benefits fails to sustain itself in the market. 

  • From a content creator viewpoint, staying on followers’ radars is becoming challenging with each passing day. With followers expecting more from celebrities and professionals, the need to provide consistent content becomes a necessity. When there’s a way to generate income for posting content, content creators welcome these platforms with open hands. Besides, they get to build a loyal follower base by leveraging the online medium. 
  • Followers’ frame of mind is a tricky nut to crack. A considerable number of users wish to follow their favorite celebrities, off-screen. These OnlyFans clone platforms pave the way for providing one-on-one sessions with celebrities, leading to maximum user engagement rates. A significant number of users have reached the platform to spend their leisure time amid the lockdown situation. These platforms provide a perfect entertainment scope for followers as they can interact with leading stars after paying the subscription fee. 

Either way, the platform provides entertainment for followers and consistent revenue for celebrities. An entrepreneur with the perfect approach and an ultra-modern celebrity social media subscription app can gain an irreplaceable position among the audience. 

A timepass amid the lockdown? 

Another intriguing question that makes an entrepreneur revisit the decision is if these apps can be considered for long-term investments? Considering the reputation for OnlyFans for its adult content and viewership, will the audience continue to use the platform in the ‘new’ normal? 

On an optimistic note, a wide range of content creators, including independent musicians, journalists, podcasters, actors, etc., prefer premium subscription platforms over apps like TikTok, Twitter, etc. Besides, OnlyFans’ premium subscriptions rose by more than 50% in April, providing a strong sign that people are ready to spend on availing quality content from their favorite professionals.  

In a pessimistic tone, the traffic will eventually subside as things return to normalcy. Unless and until there’s discretion in the type of content posted on the OnlyFans clone platform, users will hesitate to join. 

Overall, the market is poised to grow towards a positive trajectory in the upcoming years. It is entirely up to the entrepreneur to build a positive brand value and project the platform towards the right set of audience. 

Economically, a definite win! 

OnlyFans demands 20% of creators’ subscription fees as commissions. This means that as long as the platform engages creators with followers, there’s always room for a steady income source. 

Besides, the platform provides income via not one but many income sources. For example, providing tips during live streams has been the way platforms like OnlyFans operated. These tips do not reach creators entirely. The platform deducts a part of it as commission. Likewise, there’s no smartphone application without advertisements nowadays. By displaying third-party brands, a platform owner can levy charges based on the ad views, clicks, impressions, etc. 

On the whole, as long as the platform is buzzing with creators and fans, an entrepreneur has access to unrestricted revenue from various streams. 

The Verdict 

There’s no hiding in the fact that a majority of users will pay subscriptions for erotic content. The success of an OnlyFans clone lies in the fact where audiences access the platform for a lot more than the fundamental eroticism. Turning the platform into a centralized hub for varied creators or ‘just’ another adult content subscription platform lies in the hands of an entrepreneur. Conclusively, as a blessing in disguise, COVID-19 has opened the floodgates for a vast, unexplored market. Capitalizing on it and turning it into a sure-shot success will entirely depend on the finesse of entrepreneurs.

Also Read: 6 Top Android Business Apps for Best Solutions
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