OnlyFans has been putting a lot of effort into upcycling its image from an adult content subscription platform to a Patreon-like home for all kinds of creators, but it’s far from moving away from them as users. Today CEO Ami Gan of the platform confirmed that adult content will still have a home on the site in five years, and those creators can continue to make a living on it.
The confirmation, made today on stage at TechCrunch Disrupt, is notable because of the rocky relationship OnlyFans has had with adult creators. Last year, the company announced it would ban adult content on the site after pressure from card payment companies and efforts it reportedly was making to raise outside funding. Then it abruptly suspended the decision less than a week later after an outcry from users.
Now it’s also starting to see some new fronts of potentially formidable competition: TikTok earlier this week announced that it would be introducing adult-only livestreams as it raised the age requirement for TikTok Live.
OnlyFans has at the same time been making an effort to position itself as more than just a platform for NSFW content and that NSFW is being ring-fenced in a more responsible way. Its top execs like to use the more general euphemism of “spicy” these days to refer to the work you find on there, and they like to talk about emerging categories on the platform like cooking and fitness. Gan also noted that it’s working with the wider community of lawmakers and others to ensure that adult content is only being viewed by those who are legally allowed to do so.
Yet it hasn’t made a firm assurance in how it plans to serve the adult market longer term. Today’s comments quietly confirm that it will.
The area remains a sensitive subject though. Execs at the company remain guarded on any specifics that speak to how lucrative that business is. On stage today, Gan and strategy head Keily Blair skirted questions on just how much the company makes from adult content creators.
“We’d have to look at every single transaction on the platform and assign it,” explained Gan, “and we’re not collecting [that] data.” Gan was previously the company’s CMO.
“Like, the better question is, why is that important to people?” snapped Blair, who joined the company in January 2022 and comes from working in “contentious data privacy law” and related legal areas.
The company operates on an 80/20 revenue share model, where creators get 80% and OnlyFans takes a 20% cut. In any case, it’s not clear it needs to worry about outside funding.
OnlyFans is based out of the U.K., and earlier this year, it reported that usage of the platform exploded in 2021. Creators on its platform now number 2.1 billion while “fans” number 188 million. The audience of fans is growing at a faster rate, 128% versus 34% for creators. Those creators earned $4 billion in that year, and OnlyFans’ profit was $433 million, up from just $61 million the year before. Revenues were $932 million, up 160%, over the year.
Figures (via PitchBook) estimate that the company is on track to make $2.5 billion in revenues this year.
Update, 10/19/22, 6:20 pm et. There are 2.1 million creators, not billion.
OnlyFans CEO says adult content will still have a home on the site in 5 years by Ingrid Lunden originally published on TechCrunch
OnlyFans CEO says adult content will still have a home on the site in 5 years
Архив рубрики: Social
33% of US TikTok users say they regularly get their news on the app, up from 22% in 2020
Earlier this summer, a Google exec admitted that TikTok was eating into its core Search business, particularly among younger users. But that’s not all TikTok is now being used for, a new Pew Research Center study indicates. According to the findings from a report that examined Americans’ use of social media for news consumption, 33% of TikTok users now say they regularly get their news on the social video app, up from just 22% in 2020.
Meanwhile, nearly every other social media site saw declines across that same metric — including, in particular, Facebook, where now only 44% of its users report regularly getting their news there, down from 54% just two years ago.
Image Credits: Pew Research
This data suggests TikTok has grown from being just an entertainment platform for lip syncs, dances, and comedy to one that many of its users turn to in order to learn about what’s happening in their world.
That may raise concerns, given TikTok’s connections to China — a topic it was recently pressed to clarify in a Senate hearing focused on national security. The hearing had followed the release of a BuzzFeed News report that had discovered how China-based ByteDance employees had been regularly accessing TikTok’s U.S. users’ private data.
If TikTok were to become one of the primary ways younger people in the U.S. learned about news and current events, then the app could potentially provide a channel for a foreign power to influence those users’ beliefs with subtle tweaks to its algorithm.
Meta, TikTok, YouTube and Twitter dodge questions on social media and national security
For the time being, however, TikTok is not a primary source of news consumption across social media — that honor still resides with Facebook.
Pew found that 31% of U.S. adults report regularly getting their news from Facebook, which is higher than the 25% who get their news from YouTube, the 14% who get it from Twitter, or the13% who get it from Instagram.
TikTok was in fifth place by this ranking, as only 10% of U.S. adults said they regularly get their news on the video app. (Of course, when TikTok’s sizable user base of those under the age of 18 grows up, these metrics could quickly change.)
LinkedIn (4%), Snapchat (4%), Nextdoor (4%), WhatsApp (3%) and Twitch (1%) were much smaller sources of news among Americans, the study also found.
Image Credits: Pew Research
In addition, Pew somewhat backed up Google’s assertion that it was losing traction to TikTok and other social media apps, as it noted that the percentage of U.S. adults who got their news via web search had dropped from 23% in 2020 to 18% in 2022.
But it didn’t necessarily point to TikTok or any other social platform as gaining, as the percentage of adults using social media of any sort for news consumption dropped from 23% to 17% between 2020 and 2022, as did other forms of news consumption like news websites and apps.
Image Credits: Pew Research
It’s not clear that any single platform is benefiting from these declines, as Pew didn’t uncover a shift from digital news sources to others, such as TV, print or radio — all those saw declines in news consumption as well.
Image Credits: Pew Research
Still, digital devices continue to outpace TV, Pew said, as the latter has seen its usage drop as a source for news consumption from 40% in 2020 to 31% in 2022.
Plus, when asked about preferences, more Americans (53%) said they would rather get their news digitally than on TV (33%), radio (7%), or print (5%) — an answer that’s stayed consistent since 2020.
Google exec suggests Instagram and TikTok are eating into Google’s core products, Search and Maps
33% of US TikTok users say they regularly get their news on the app, up from 22% in 2020 by Sarah Perez originally published on TechCrunch
33% of US TikTok users say they regularly get their news on the app, up from 22% in 2020
Daily Crunch: Adobe snaps up Figma in proposed $20B deal that has some scratching their heads
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Happy Thursday! Has everyone recovered from Zoom going down this morning? Don’t worry, Zoom is back up, but if anything, we hope it helped you have a quieter day…for a while at least. — Christine and Haje
The TechCrunch Top 3
One rival at a time: The digital design world got a treat today when Adobe announced it was buying Figma, one of its biggest rivals, in a $20 billion deal that has both investors and Figma enthusiasts pondering what will change and if those changes will be bad, Ingrid reports. Meanwhile, Alex gives his take on the deal over in TechCrunch+ land.
“The Merge” is here: Talk of “The Merge” has been with us for weeks, and today it is finally here. If you don’t follow cryptocurrency, this means that Ethereum, one of crypto’s most popular blockchains, has now switched to proof-of-stake consensus, which also means it will now consume a lot less electricity, Romain writes. And for TC+, Jacquelyn tells us why it matters that Lido, Coinbase, Kraken and Binance have a majority stake of ETH.
There’s a fix for that: Apple is clearing a path for easy iPhone 14 integration with a setup fix. Ivan has more.
Startups and VC
Today, Haje has been running around at Micromobility America. They insist on using the MMA acronym, so he’s expecting a fist to the face any moment, but so far the only risk of injury has been from neck-breaking micromobility in the form of electric rollerblades. It’s probably a coincidence that Kav announced it is spooling up a 3D printing factory for bike helmets on the same day.
Looks like mobility is everywhere these days — Matt notes that mobility startups are filling the void in a Detroit auto show that’s a shell of its former self.
The TechCrunch team has been extraordinarily busy. There’s a wall of news on the TechCrunch homepage; here’s a few of the ones that caught our eye this fine Thursday:
Like private equity, but with pocket change: Anita reports that Allocations just raised at a beefy $150 million valuation in its mission to help private equity funds lure smaller investors.
You and me, baby, ain’t nothing but mammals, so let’s invest across multiple channels: U.K.-based fintech Lightyear is extending its stock-trading offering to include a wide selection of stocks and traded funds (ETF), Paul reports.
From the shirt off your back to the shiz in your bag: Reusable packaging startup Olive creates a new model to keep clothes out of landfills, Christine reports.
We’re sure more money will fix this: VCs look the other way as they give $205 million more to Verkada, whose tech (and lax security) has been abused repeatedly, Connie reports.
To Infinity and beyond: Morpheus Space’s satellite thrusters are propelled forward with a $28 million Series A, reports Stefanie.
Pitch Deck Teardown: Helu.io’s $9.8M Series A deck
Image Credits: Helu (opens in a new window)
Helping small- and medium-sized enterprises with their controlling, reporting and budgeting may not sound exciting, but Austrian fintech startup Helu.io’s storytelling skills excited investors enough to raise a $9.8 million Series A in July.
With the exception of some details regarding unit economics and revenue, Helu shared its entire winning pitch deck with us. As these slides suggest, its founders took a straightforward approach:
Problem: “The CFO’s pain is Excel.”
Solution: “Good-bye Excel sheets.”
Pitch Deck Teardown: Helu.io’s $9.8M Series A deck
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Big Tech Inc.
Whenever Call of Duty is mentioned, we can’t help but recall Rashida Jones’s character in “The Office” giving the game a shout-out. In today’s case, Jordan was there as Activision unveiled what the game’s next generation will look like.
We won’t be undone: Amanda got “BeReal” with TikTok’s newest feature, which will have you experiencing a bit of déjà vu.
“The Merge,” take two: We know you enjoyed Romain’s coverage of “The Merge”; now Rita reports on how this has affected cryptocurrency miners.
Two giants make an even bigger giant: Want to know what happens to customer data when Salesforce and Snowflake partner? Ron can tell you.
All eyes on gaming: While Activision was over there unveiling the new Modern Warfare game, the company’s proposed tie-up with Microsoft is getting a deeper look from the United Kingdom’s antitrust investigators, Natasha L reports.
Back in the hot seat: Taylor watched the latest Senate Homeland Security Committee meeting featuring executives from Meta, TikTok, YouTube and Twitter so you don’t have to. Spoiler, they dodge questions about social media and national security.
Daily Crunch: Adobe snaps up Figma in proposed $20B deal that has some scratching their heads by Christine Hall originally published on TechCrunch
Daily Crunch: Adobe snaps up Figma in proposed $20B deal that has some scratching their heads
Google, YouTube outline plans for the US midterm elections
Google and its video sharing app YouTube outlined plans for handling the 2022 U.S. midterm elections this week, highlighting tools at its disposal to limit the effort to limit the spread of political misinformation.
When users search for election content on either Google or YouTube, recommendation systems are in place to highlight journalism or video content from authoritative national and local news sources such as The Wall Street Journal, Univision, PBS NewsHour and local ABC, CBS and NBC affiliates.
In today’s blog post, YouTube noted that it has removed “a number of videos” about the U.S. midterms that violate its policies, including videos that make false claims about the 2020 election. YouTube’s rules also prohibit inaccurate videos on how to vote, videos inciting violence and any other content that it determines interferes with the democratic process. The platform adds that it has issued strikes to YouTube channels that violate policies related to the midterms and have temporarily suspended some channels from posting new videos.
Image Credits: Google
Google Search will now make it easier for users to look up election coverage by local and regional news from different states. The company is also rolling out a tool on Google Search that it has used before, which directs voters to accurate information about voter registration and how to vote. Google will be working with The Associated Press again this year to offer users authoritative election results in search.
YouTube will also direct voters to an information panel on voting and a link to Google’s “how to vote” and “how to register to vote” features. Other election-related features YouTube announced today include reminders on voter registration and election resources, information panels beneath videos, recommended authoritative videos within its “watch next” panels and an educational media literacy campaign with tips about misinformation tactics.
On Election Day, YouTube will share a link to Google’s election results tracker, highlight livestreams of election night and include election results below videos. The platform will also launch a tool in the coming weeks that gives people searching for federal candidates a panel that highlights essential information, such as which office they’re running for and what their political party is.
Image Credits: YouTube
With two months left until Election Day, Google’s announcement marks the latest attempt by a tech giant to prepare for the pivotal moment in U.S. history. Meta, TikTok and Twitter have also recently addressed how they will approach the 2022 U.S. midterm elections.
YouTube faced scrutiny over how it handled the 2020 presidential election, waiting until December 2020 to announce a policy that would apply to misinformation swirling around the previous month’s election.
Before the policy was initiated, the platform didn’t remove videos with misleading election-related claims, allowing speculation and false information to flourish. That included a video from One America News Network (OAN) posted on the day after the 2020 election falsely claiming that Trump had won the election. The video was viewed more than 340,000 times, but YouTube didn’t immediately remove it, stating the video didn’t violate its rules.
YouTube declares war on US election misinformation… a month late
In a new study, researchers from New York University found that YouTube’s recommendation system had a part in spreading misinformation about the 2020 presidential election. From October 29 to December 8, 2020, the researchers analyzed the YouTube usage of 361 people to determine if YouTube’s recommendation system steered users toward false claims regarding the election in the immediate aftermath of the election. The researchers concluded that participants who were very skeptical about the election’s legitimacy were recommended significantly more election fraud-related claims than participants who weren’t unsure about the election results.
YouTube pushed back against the study in a conversation with TechCrunch, arguing that its small sample size undermined its potential conclusions. “While we welcome more research, this report doesn’t accurately represent how our systems work,” YouTube spokesperson Ivy Choi told TechCrunch. “We’ve found that the most viewed and recommended videos and channels related to elections are from authoritative sources, like news channels.”
The researchers acknowledged that the number of fraud-related videos in the study was low overall and that the data doesn’t consider what channels the participants were subscribed to. Nonetheless, YouTube is clearly a key vector of potential political misinformation — and one to watch as the U.S. heads into its midterm elections this fall.
Facebook will disable new political ads a week before US midterm elections
Daily Crunch: Embedded finance fintech Pezesha raises $11M pre-Series A equity-debt round
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Hey, hey, hey! Good to have you back with us again. Today, we’re mostly amazed at how quiet Twitter gets during Burning Man, and excited that we’re doing a Labor Day sale for TechCrunch Plus, if you’ve been wanting to read our subscription site but you’ve been holding off for whatever reason. — Christine and Haje
The TechCrunch Top 3
Embed that finance: Pezesha, a Kenyan-based fintech startup, is flush with $11 million in new capital as it seeks to bridge the gap between access to financial products and what is a “$330 billion financing deficit for the small enterprises that make up 90% of Africa’s businesses,” Annie reports.
We’re all connected: If you haven’t yet seen yourself in one of your Twitter connection’s Circles, you may soon. The social media giant is launching the “Close Friends” features globally, Ivan reports. Add a bunch of people to your Circle and get tweeting.
No delivery for you: Delivery platform Gopuff has only been in Europe since November 2021, but Natasha L writes it made the decision to discontinue its service in Spain. She cites that perhaps this is to focus more on the United Kingdom market where revenue there is increasing 30% month over month.
Startups and VC
Initialized Capital was VC Garry Tan’s answer to a need first highlighted by Y Combinator. As a partner at the accelerator from 2010 to 2015, Tan spent time working with companies to better understand what they needed from investors after they graduated. This week, he announced he’s back at the helm at YC, and Natasha M interviewed him about what’s next for Y Combinator.
The company behind last summer’s hot social app, Poparazzi, appears to be readying a round two following its $15 million Series A announced in June. A new listing in the App Store under the developer’s account, TTYL, is teasing a pre-release app called Made with Friends, Sarah reports.
When the news hits your eye, like a big pizza pie, that’s a-more-news:
Notification bubbles: Devin reports that, at long last, there’s an underwater messaging app.
Money for laundering: Flush with fresh funds, U.K. “eco laundry” startup Oxwash raised $12 million to spin up its growth plans, Natasha L reports.
Faster when further afield: The U.K.’s £5 billion Project Gigabit gives out its first contract to connect rural areas to high-speed broadband, Paul reports.
PriceOye gets the Thiel seal of approval: Islamabad-based startup PriceOye offers a range of electronics products, including smartphones, TVs and home appliances. It just closed a round of funding from investors, including Peter Thiel, reports Jagmeet.
Dodging the SPAC bullet: Alex and Anna wrote a really interesting piece on TC+ (use “DC” for a 15% discount if you’re not a subscriber yet) about SPACs, how they are falling apart, and how Europe may have dodged a bullet on that front.
How to communicate to your crypto community when things aren’t going well
Image Credits: Peter Dazeley (opens in a new window) / Getty Images
Because it’s a nascent industry that’s largely unregulated, crypto companies are not generally skilled at crisis communications. (We’re being generous here.)
When a bank or financial services company experiences a massive security failure or a volatility shock, federal laws dictate how it must communicate with its customers. Crypto startups, however, must rely on their own best judgment.
“There’s little benefit in declaring that the sky is falling and begging your community for investment, but an overly rosy outlook won’t fool anyone either,” says Tahem Verma, co-founder and CEO of Mesha.
How to communicate with your crypto community when things aren’t going well
(TechCrunch+ is our membership program, which helps founders and startup teams get ahead. You can sign up here.)
Big Tech Inc.
Last chance to get your game on in the Facebook Gaming app. The social media giant said it is shutting down its stand-alone app at the end of October, Aisha reports. Don’t worry, you can still find your games in Gaming on actual Facebook. When launching the separate app two years ago, it seemed to be more difficult than Facebook bargained for, so it decided to join ’em instead of beating ’em.
Data duh!: Millions of faces and vehicle license plates were leaked online in China, Zack writes.
Ghosts can drive?: A Tesla Model 3 owner filed a class action lawsuit against the electric vehicle maker alleging the car keeps “phantom braking,” Jaclyn reports.
New security regime: Broadband and mobile carriers in the United Kingdom could face fines of up to $117,000 per day or 10% of their sales if they don’t abide by some new cybersecurity rules, Ingrid writes.
More Elon: Taylor has the 411 on Elon Musk’s new strategy for getting out of the Twitter deal — hint, it involves the company’s whistleblower. Meanwhile, Paul goes over the new subpoena related to the ongoing battle.
Daily Crunch: Embedded finance fintech Pezesha raises $11M pre-Series A equity-debt round