Latest news with #Ukrainian-American
Sydney Morning Herald
3 days ago
- Business
- Sydney Morning Herald
How adult content platform OnlyFans transformed porn
Since it was founded in 2016 by a well-heeled Brit, OnlyFans has grown into a giant of X-rated content. The platform, whose current owner, a secretive Ukrainian-American, is reportedly looking to sell it for $US8 billion (about $12.3 billion), is used by more than four million 'creators', who post content, and more than 300 million 'fans', who pay for it. In the 12 months to November 2023, the latest data available, it brought in revenue of US1.3 billion (about $2 billion). At around 50 per cent, its operating margin was higher than those of tech giants such as Alphabet, Meta and Microsoft. OnlyFans has not only been an enormous financial success. It has transformed how porn is made, shared and consumed online. The internet has been filled with smut for as long as it has existed. Work published in the Journal of Sex Research in 2023 suggests major porn sites get more monthly visitors and page views than Amazon, Netflix or Zoom. Yet the porn industry has struggled to make money. 'Tube sites', such as PornHub, allow more or less anyone to watch videos for free. Advertising revenues are paltry, as many brands would rather not be associated with adult content. Measures to keep illicit content such as child porn off some sites are weak. OnlyFans, by contrast, has developed a lucrative new approach. It charges users to watch videos, with extra fees for bespoke content, merchandise and personalised chats. Much of this, though not all, is sexual in nature. OnlyFans keeps a 20 per cent cut of what users pay, slightly less than Uber, a ride-hailing app, and about the same as Airbnb, a home-sharing platform. The company paid creators $US5.3 billion (about $8.2 billion) in the 12 months to November 2023. And OnlyFans isn't on the app stores run by Apple and Google, which means it doesn't have to pay hefty fees on in-app purchases. Loading Because it has money, OnlyFans can invest in security measures which, though imperfect, are at least better than those of many of its peers. In some markets, including Britain, it uses third-party technology to estimate a viewer's age based on a facial scan, to ensure minors don't sign up. For creators, it requires numerous pieces of documentation, including a government ID and bank details. It has a team of nearly 1500 people verifying accounts and checking that videos on the platform meet its rules. In May, OnlyFans rejected about two-thirds of the 187,305 applications it received for new accounts. Keily Blair, its chief executive, compares this to the know-your-customer process followed by big banks. 'There is no anonymity on OnlyFans,' she says, adding that content is not end-to-end encrypted, allowing the company to monitor what is published, and there is no algorithm pushing posts. Creators have flocked to the site. Last year Lily Allen, a famous singer, revealed she was making more money through her OnlyFans account, where she shared photographs of her feet, than through Spotify, a music-streaming service. Bonnie Blue, a sex worker who was banned from OnlyFans this month following a stunt in which she slept with more than 1000 men in a day, tells The Economist she earned as much as $US250,000 (about $385,000) per month from the site. She bought a Ferrari and a Rolex with the proceeds. Hers is a serious business. Ms Blue has a team of around 10 people, including photographers, editors and security. She says she spends 60-70 per cent of her time at her desk, rather than in the bedroom, replying to messages and doing administrative tasks.
The Age
3 days ago
- Business
- The Age
How adult content platform OnlyFans transformed porn
Since it was founded in 2016 by a well-heeled Brit, OnlyFans has grown into a giant of X-rated content. The platform, whose current owner, a secretive Ukrainian-American, is reportedly looking to sell it for $US8 billion (about $12.3 billion), is used by over four million 'creators', who post content, and over 300 million 'fans', who pay for it. In the 12 months to November 2023, the latest data available, it brought in revenue of US1.3 billion (about $2 billion). At around 50 per cent, its operating margin was higher than those of tech giants such as Alphabet, Meta and Microsoft. OnlyFans has not only been an enormous financial success. It has transformed how porn is made, shared and consumed online. The internet has been filled with smut for as long as it has existed. Work published in the Journal of Sex Research in 2023 suggests major porn sites get more monthly visitors and page views than Amazon, Netflix or Zoom. Yet, the porn industry has struggled to make money. 'Tube sites', such as PornHub, allow more or less anyone to watch videos for free. Advertising revenues are paltry, as many brands would rather not be associated with adult content. Measures to keep illicit content, like child porn, off some sites are weak. OnlyFans, by contrast, has developed a lucrative new approach. It charges users to watch videos, with extra fees for bespoke content, merchandise and personalised chats. Much of this, though not all, is sexual in nature. OnlyFans keeps a 20 per cent cut of what users pay, slightly less than Uber, a ride-hailing app, and about the same as Airbnb, a home-sharing platform. The company paid creators $US5.3 billion (about $8.2 billion) in the 12 months to November 2023. And OnlyFans isn't on the app stores run by Apple and Google, which means it doesn't have to pay hefty fees on in-app purchases. Loading Because it has money, OnlyFans can invest in security measures which, though imperfect, are at least better than those of many of its peers. In some markets, including Britain, it uses third-party technology to estimate a viewer's age based on a facial scan, to ensure minors don't sign up. For creators, it requires numerous pieces of documentation, including a government ID and bank details. It has a team of nearly 1500 people verifying accounts and checking that videos on the platform meet its rules. In May, OnlyFans rejected about two-thirds of the 187,305 applications it received for new accounts. Keily Blair, its chief executive, compares this to the know-your-customer process followed by big banks. 'There is no anonymity on OnlyFans,' she says, adding that content is not end-to-end encrypted, allowing the company to monitor what is published, and there is no algorithm pushing posts. Creators have flocked to the site. Last year Lily Allen, a famous singer, revealed she was making more money through her OnlyFans account, where she shared photographs of her feet, than through Spotify, a music-streaming service. Bonnie Blue, a sex worker who was banned from OnlyFans this month following a stunt in which she slept with more than 1000 men in a day, tells The Economist she earned as much as $US250,000 (about $385,000) per month from the site. She bought a Ferrari and a Rolex with the proceeds. Hers is a serious business. Ms Blue has a team of around ten people, including photographers, editors and security. She says she spends 60–70 per cent of her time at her desk, rather than in the bedroom, replying to messages and doing administrative tasks. 'Being an online creator isn't as glam as it seems,' she says.
Economist
4 days ago
- Business
- Economist
How OnlyFans transformed porn
Since it was founded in 2016 by a well-heeled Brit, OnlyFans has grown into a giant of x-rated content. The platform, whose current owner, a secretive Ukrainian-American, is reportedly looking to sell it for $8bn, is used by over 4m 'creators', who post content, and over 300m 'fans', who pay for it. In the 12 months to November 2023, the latest data available, it brought in revenue of $1.3bn. At around 50%, its operating margin was higher than those of tech giants such as Alphabet, Meta and Microsoft. OnlyFans has not only been an enormous financial success. It has transformed how porn is made, shared and consumed online.
New York Post
7 days ago
- Entertainment
- New York Post
Coney Island Mermaid Parade makes a splash once again
The Coney Island Mermaid Parade made quite a splash once again. The 43rd annual event — the nation's largest art parade — welcomed revelers close from the Big Apple to around the world, many donning over-the-top aquatically-themed costumes for the tropical festivities. 'It's a great expression of people's creativity,' gushed Noella Owen, 53, of Brooklyn, who attended with her two children, aged 11 and 12. Advertisement The trio, who show up annually, hand made their marine-centric ensembles. 'My kids are dressed as krill and they wanted me to be a blue whale because of their fat jokes,' Owen said. 6 Many came to the Coney Island Mermaid Parade donning aquatically-themed costumes. Michael Nagle Advertisement The joyfully unconventional parade kicked off at 1 p.m. and the crowd quickly swelled to 30,000, which included marchers, spectators and those on the boardwalk, according to police. Caroline Northrop, 44, a public school teacher from Atlantic Highlands, N.J., also expressed her love for the unique 'celebration of creativity.' '[It] shows so many people are still creative even with AI everywhere, it's so refreshing,' said Northrop, who donned a 'woodland enchantress' outfit decorated with fake mice. 6 The joyful event dates back to 1983. Michael Nagle Advertisement 6 Victor Gonzales spent a month creating his outfit. Khristina Narizhnaya Victor Gonzales, 39, a civil engineer who lives in Queens, dressed as a lion fish, and said it took him one month to painstakingly create the costume. 'Because I have to sew, I have to do this structure. I have to design the makeup as well. Today, [it took to get dressed] probably about two and a half hours … I have to glue on the paper things,' he explained. Each year, a new King Neptune and Queen Mermaid are crowned — Ukrainian-American singer and Gypsy punk band Gogol Bordello frontman Eugene Hütz and Bed-Stuy based pornstar Queenie Sateen were awarded the day's honors. Advertisement 6 Eugene Hütz and Queenie Sateen were crowned King Neptune and Queen Mermaid. Michael Nagle 6 There were 30,000 at the festivities, according to police estimates. Michael Nagle Hütz, who has been living in New York since 1997, was not only finally able to attend this year, but take on the venerable title. 'Every year I hear about it and … some kind of a big splashy burlesque action … and I'm always on tour,' he said. 'And all these years go by like that, let's finally see it already, you know? And then this year, miraculously, we're touring in the later part of the summer, not earlier part of the summer. And I get a call, so it's like, you know, 10 out of 10.' 6 Paula Carlson dressed as a 'more modern mermaid.' Samantha Olander Paula Carlson, 47, of Bay Ridge, a retired emergency manager, dressed as a 'more modern mermaid' in homage to Hütz. 'I wanted to pay tribute, because it is Eugene [Hütz as King Neptune] and he's Ukrainian, to the Rusalka, which is the Ukrainian myth of the mermaid, and she brings water to all of the crops.'
Yahoo
13-06-2025
- Business
- Yahoo
Former US envoy for Ukraine Volker: Minerals deal won't bring Ukraine money soon but will shift rhetoric in US
Former US Special Envoy for Ukraine Kurt Volker has said that the newly signed Ukraine-US agreement on cooperation in the field of minerals and natural resources will not yield immediate financial results but plays an important political role. Source: Volker on 13 June during the GLOBSEC-2025 forum in Czechia Details: Volker recalled that the agreement involves the creation of a Recovery Fund, which is expected to receive revenues from future natural resource extraction licences in Ukraine. However, he noted that "the reality is: nothing will go into this fund... for years and years". Instead, he explained that the main purpose of the deal is to shift the narrative in the US – moving away from portraying Ukraine as a charity case and towards a vision in which it can "repay" the aid and provide compensation in the future. Volker stated that "the Biden administration has been spending taxpayers' money limitlessly and having no strategy". Meanwhile, now, he added, there is a strategy, and "a way Ukraine can pay them [the US – ed.] back". He stressed that any financial return from this initiative would only be possible after the war ends and following years of investment in the extraction sector. Commenting on the investment outlook, Volker stated that large parts of Ukraine remain safe for business and that many of the barriers to investors stem not from the war but from the country's business climate. Volker said that it is necessary to clearly identify what is hindering economic development and remove these obstacles. Background: On 8 May, Ukraine's parliament ratified the so-called minerals agreement with the US and approved the creation of a joint Ukrainian-American reconstruction investment fund. President Volodymyr Zelenskyy signed the law on 12 May. On 13 May, Ukraine signed two commercial agreements with the US International Development Finance Corporation as part of the implementation of the ratified investment fund deal. On 4 June, Ukraine's parliament approved amendments to the Budget Code to enable the implementation of the US-Ukraine mineral resources agreement. Support Ukrainska Pravda on Patreon!
