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Morning Brew Daily
OnlyFans Rakes In Almost $7B & US Gas Prices Fall to Nearly $3?
Sep 9, 2024
Selena Gomez, a renowned artist and billionaire, joins the conversation to discuss her successful beauty brand, Rare Beauty, and its focus on social impact and mental health. The hosts explore the surprising profits of OnlyFans, highlighting its shift to safe-for-work content with OFTV. They also touch on the U.S. government's consideration of a sovereign wealth fund and the implications of fluctuating gas prices for American drivers. Gomez's journey underscores the challenges and triumphs celebrities face while building authentic brands.
29:54
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Quick takeaways
- OnlyFans has successfully generated over $6.6 billion in spending, highlighting the efficiency and profitability of its unique business model with a 50% profit margin.
- Selena Gomez's rise to billionaire status, driven by her successful beauty brand Rare Beauty, emphasizes the value of authenticity and social responsibility in entrepreneurship.
Deep dives
OnlyFans' Enviable Business Model
OnlyFans operates a highly lucrative business model that has generated significant revenue, surpassing $1.3 billion, largely due to its 20% cut from creators' earnings. This model allows users to directly pay creators for exclusive content, resulting in a staggering $6.6 billion spent on the platform. The company's operating profit margin of 50% far exceeds tech giants like Meta and Google, showcasing its exceptional efficiency with only 41 employees. Leo Radvinsky, the sole owner of OnlyFans, has also benefited immensely, having paid himself $472 million in dividends this year alone.
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