Various startups are under pressure due to the current economic conditions, some have even laid off. However, some are still performing well. For example, Netflix and OnlyFans are currently experiencing different fates.
OnlyFans chief strategy officer, Keily Blair, stated that his company did not experience a slowdown in subscriber growth as experienced by Netflix. "We didn't experience that slowdown," he claims.
As quoted by us from CNBC, Friday (10/6/2022) Netflix announced some time ago that it lost 200 thousand paid subscribers for the first time in a decade. Later, they also decided to lay off hundreds of employees.
A tough challenge is facing Netflix where economic conditions worsen with rising inflation. They also inevitably have to adjust the budget in the midst of soaring costs.
OnlyFans Chief Financial Officer, Lee Taylor, said that his company has a completely different business model from Netflix. "Netflix is competing in a very saturated market," he said.
Especially now that there is fierce competition from big names like Disney and Disney Plus. Meanwhile, OnlyFans relies on a community of creators, although it is sometimes controversial because some display inappropriate content.
Lee claims that while companies like Netflix are cutting employees, OnlyFans' workforce is growing consistently, up to 3% per month.
Carrying the concept of a paid but private content service, plus rules that free users, make OnlyFans a target for creators, including sex workers, to appear on the platform.
Moreover, it is possible for creators to earn money from users who subscribe to their content. But last year, OnlyFans began to tighten up nasty impressions on its site.