OnlyFans launches fund for music artists – Billboard
Over the past year, artists from Cardi B to The-Dream and Rico Nasty have all joined the OnlyFans content subscription platform – and BeyoncÃ© even praised the platform during her verse on a remix of “Savage” by Megan Thee Stallion. Today, the London-based company is taking a closer look at the world of music with the launch of a new creation fund for artists in the UK, announced today (March 17).
The fund will provide four aspiring artists with grants of Â£ 20,000 (approx. $ 27,800) each, along with mentorship from a ‘music industry professional’, to help them jump-start their careers in music. . Artists can enter to win the funds online until April 13 using an application process that includes uploading a 90-second performance video. CEO of OnlyFans Tim stokely will judge the nominations alongside a panel including singer and actress Suki Waterhouse, rapper Stefflon Don, DJ-producer Joe Goddard and House of Holland clothing company founder Henry Holland.
“The creative community has suffered during the pandemic and OnlyFans wants to give musical artists the opportunity to hone their skills and launch their work,” the website read. “With so many musical artists, including Cardi B, Jermaine Dupri, Franc Moody and many more, joining the site, OnlyFans is keen to support emerging artists in the creative community.”
The OnlyFans Creative Fund is on its way to becoming a multi-year project, with the inaugural year being centered around music. Reached by email, a company spokesperson said the response to the new fund had already been “astounding” and “nothing is ruled out in the future for other markets.”
Founded in 2016, the privately-held company now has more than one million content creators and more than 100 million users, according to its website.
The company has built a reputation for its community of sex workers, but anyone can create a page on OnlyFans, where creators can upload videos, photos and other content, go live and collect. advices. Users unlock access to this content by paying a monthly subscription set by the creator (although creators can make their pages free as well). Creators receive 80% of their subscription revenue.
To date, OnlyFans has paid creators more than $ 3 billion in revenue, and the company claims more than 100 creators have made more than $ 100 million through the platform. As artists scrambled to find new sources of income amid the pandemic, the platform increasingly attracted the music industry: Cardi B launched a page for behind-the-scenes shots and other content in August, and The-Dream created a “listening experience” on its free account last April to promote its sextape 4 album, among other examples.
According to OnlyFans’ online income calculator – which assumes that between 1% and 5% of an artist’s social media followers on Instagram, Facebook and Twitter will subscribe to their OnlyFans – Cardi B’s page could generate between $ 5.2 and $ 26 million per month after OnlyFans takes its share.