 All right. All right. I'll help. All right. We made it to the stage. Welcome, everyone. Thank you so much for being here. As mentioned, my name is Kiyoko Glacheva. I'm a reporter with Axios, and I'm based in San Francisco. Really excited to be in Finland. And I'm here with Amy, who is the CEO of OnlyFans, and Keeley, who is the chief strategy and operations officer. Welcome, ladies. Thank you. It's a pleasure to be here. So to kick us off, because I know there's a lot of misconceptions about OnlyFans, so if you're going to give me the elevator pitch of what is OnlyFans? Absolutely. So that's why we're here, is really to talk about the business and clear up those misconceptions. I'm sure everyone that's in attendance. You've probably heard of OnlyFans, and you might have an idea of who we are, what we're about. Typically, you may immediately think, oh, there's some spicy content on there, which, yes, we are home to adult content creators. We're also home to a range of other creators, and the platform's really meant to be a way for creators to be able to monetize content that they normally would be sharing for free on other social media platforms. OnlyFans launched in 2016, really before its time, looking at how influencer marketing was at the time, whether it's ad deals, brand deals, things like that. And what really happened with the creator economy is now creators realize they can make money. Their fans want to see them, and that's where content monetization comes in. So we have a very simple business model where creators take home 80% of all earnings on the platform. OnlyFans is a subscription-based platform, so fans are subscribing to creators. They may have a free subscription or a paid subscription, and then within that there's other ways for creators to monetize, which could be through content, direct messages, live streaming. It's a really exciting way for creators to really connect with their fans. In a way they can't elsewhere, which is showing the power of the creator economy. We have over 220 million fans on the platform, and we're continuing to grow, looking into the future. Give me a quick update on the size of the platform. You mentioned 220 fans. How many creators? Absolutely. So we're really excited to share that. We've reached a new milestone where we now have over 3 million content creators on OnlyFans. We're in over 100 countries. We're very much a global business and a disruptor and leader in the creator economy. We've paid out over 10 billion in creator earnings since being founded in 2016, and that shows the power of our community, of creators, and the power that creators hold in terms of being able to connect with fans, and fans then wanting to see more, wanting to get to know, you know, who their favorite online personality is. So we provide that safe space, which we'll get into is where safety is really the foundation of our business. I say that we're creator first and safety first to truly be the most inclusive platform. While we're on the subject of numbers, I know you guys really boomed during the initial phase of the pandemic. A lot of folks turn to platforms like OnlyFans because they couldn't go out and do in-person things that they were doing with their skills. What have you been seeing since people left their houses again? Like what's happened? Any drop-offs or anything? No, we're continuing to grow as a platform, which is absolutely wonderful. As Amy mentioned, we're continuing to grow in terms of the number of creators who are joining the number of fans, the number of countries where we're seeing creator and fans come together on the OnlyFans community in that way. So we're not seeing any slowdown. And actually as a platform, we're broadening our appeal. We have spicy content, but we also have comedians and chefs and sports people who join the platform to connect with their fans. So no drop-off in terms of attention? No, which is great. Now we're continuing on a growth trajectory, which is something, again, it goes back to the power of the creator economy and the creators on our platform. So let's roll it back real quick. So, Amy, you joined in 2020 to lead marketing and communications. And then about a year ago, you get a hand of the CEO, Baton. How did that come about? What went through your mind when Tim Stokely, the founder, was like, Amy, it's now your turn. It's really been an incredible experience. I started with OnlyFans in 2020 in a CMO capacity. And really, I found I had this natural passion for the platform, getting to know our creators, getting to know the community. And looking at my background, I've always been working in disruptive industries, kind of on the forefront of what's next. And to me, that's what OnlyFans has been. And internally, I was doing a lot more than probably someone in a traditional CMO role would do. Where I had exposure to all aspects of the business, working closely with the former CEO, who's also the founder of the company, as well as with the rest of the executive team. So when it came time for that succession, it was a very easy transition. And that's where I bring forth this unique perspective and a lot of learnings being with the company. And that's why leading the business, I really put creators at the heart of what we do, along with safety, because it's important for us to be offered a safe platform for everyone. Adult content creators, any type of creators, as long as they're over 18 and follow our terms of service. And Keeley, Amy succeeds into the CEO role and you were outside council and she calls you and asks you to come into a new capacity. And the answer was, yes, I want more of this. I want to sign up for more of this spicy, controversial business. Yeah, I mean, I think the fact that one of the first appointments that Amy made to her senior team is somebody who is a safety nerd, right? I'm a lawyer, I'm a cybersecurity, privacy, online safety. That's more world that I've operated in. And that goes to show the vision for the company, right? What matters to us and our actions and making sure that that is at the heart of every business decision that we make. In terms of making sure we really can say that we're the safest social media platform and we do that in terms of looking at knowing who our creators are on our platform and making sure they go through a very rigorous process before joining, involving giving us nine different pieces of information 10 in the US, verifying their age, verifying their ID and ensuring that they're good actors because we want our platform to be safe. We want people to have a good experience on the platform. And so for me, I mean, who's going to pass up the opportunity to join a company like Omifans? Like, you know, when I'm 65, I'll be able to be like, hey, I was at the forefront of the new zenith of social media, which is an incredible opportunity. And then the chance to work alongside Amy was just too good to pass up. You mentioned, you know, ID verification and really making sure that you know who's on your platform. Has that evolved since the two of you took over the leadership? Was was it done that way before? Like, talk me through sort of the process of evolving that. Well, I think it never stands still. That's the most important thing, because the threats are always evolving. So you have to make sure that you evolve your processes over time. We've always had ID verification processes because of the nature of the content on the platform, some of the content, and we wanted to make sure that obviously we're continuing to be best in class in that. So we're always investing. We use great AI technology, but we actually don't think that AI alone is the solution. So we've built a fast content moderation team and every single piece of content on our side is reviewed by a human. And that's that's pretty impressive. And it really speaks to the commitment that we make as a company. I think the terms of the change, what's changed? It's it's really actually Amy and I being able to tell that message to more people, right, kind of getting out and owning the narrative and being able to explain to people why we prioritize safety. And that's because we all, as a society, deserve to be safe online. But that's important. It matters to us and we want to have a good online experience. And so on only fans, we listen to our creators, we listen to our fans. And that's what people want. They want to be safe. So putting that the heart of what we do makes a ton of sense. How are you going about that process? Do you have, you know, a council of experts that you are constantly talking to about, you know, what is the latest? What new trends or new things or new threat models? Or are you listening to a lot of your creators and their fans? Like, how are you going about this? It's really it's a very robust way that we look at everything where we are listening to our creators and what and keeping them safe. We also are continuing to invest in human content, moderation, human support, because while AI is great and helps us prioritize content, we believe we see everything on the platform. So that's where we're investing in staff. And at the end of the day, we we also work with an independent third party called a monitor ship in the U.S. who's been able to help us really evaluate everything we're doing and the safety world and what we could be doing better. Because again, when you are evaluating everything, you're like, oh, that's all great, but there's always more. And it's an area that's always going to continue to evolve as we grow as an organization. Yeah, I think that's right. And there's a couple of different ways, as Amy mentioned, we've got the voluntary independent monitor ship that we have in place. We also use third party experts, kind of threat hunters. We look at what's happening on other platforms. One of the things that we do as part of our creator verification process is you have to provide us with your social media handles so we can see what you're doing on other platforms as well to make sure that you can't, you know, we want to know, we're not good actors on OnlyFans. It's really important to us that that's the case. And we continue to monitor content over time. So it's not as if you just you join up, you get go through this verification process and you get signed on and then nobody looks at your content again. That's if that's not the case, it's continuous. It's a game. Wouldn't it? Wouldn't it just? And so again, it's making sure that it's that constant, always evolving, always being aware and making sure it's a priority. It has to be a priority for us. So are you taking into account off platform behavior for creators? Does that matter? So I know that's been sort of a controversial, newer philosophical area that a lot of the social media platforms are considering, you know, does it matter what you do elsewhere in your life versus just the content that you're putting out that you're hosting? Sure. Well, I mean, the creators are responsible for their own content on the platform, right? So each creator is responsible for their own content, but nonetheless, our terms of service are very robust. And in terms of what do we do look at off platform behavior, which is why other social media handles matter in terms of before someone's allowed to join the platform. But ultimately, it it comes down to what's legal. That's the most important thing for us. Again, lawyer nerd. So I go back to that. But it's about trying to make sure we get that balance right, where we allow freedom of expression to flourish. And that's why inclusivity is so important to us, but also making sure it's not treading a line where it gets into being illegal behavior or hate speech or anything along those lines. Also, with our platform, we're a complete deterrent for those types of bad actors because content's not able to go viral. You're not spreading a message to a mass audience. Fans are subscribing to see a creator. So there's no algorithms. You're not getting pushed content from different creators. So that's where, again, because of our robust verification, because of our content moderation, we've been a complete deterrent for someone or any bad actor maybe wanting to spread a message that would be against our terms of service. And that's also where having everything be human moderated, reviewing all of our applications to be a creator comes in because then they're going and cross-referencing, oh, is this person posting content on other platforms? That is of them, who they say they are. So it's just having that holistic view. Talk to me about the hate speech stance, because that's the, it's not illegal, at least in a lot of parts of the world. And at the same time, I know you guys are expanding to all kinds of creatives, right? Comedians, actors, all kinds of people. And so that becomes more and more of a potential issue. So how did you guys arrive at this policy? It's one that we thought about very hard, because it's one of our core values is to be inclusive and to allow that freedom of expression, but equally to not allow that to be harmful. We don't tend to see that kind of viral, harmful behavior because of the subscription model, right? If you want to say something super controversial and get it shared with millions of people, virally, only fans isn't the platform to do that on. The model doesn't support that in terms of behavior. And so for us, it's very important to be like, okay, well, what's the line? And the line for us is, okay, well, let's think about what's legal, what's permitted. And what's allowed under our terms of service. And we are very strict in terms of making sure that we enforce our terms of service. And in different geographies, you have to make sure that the content that you're posting as a creator is permitted in that geography, right? So different rules are different and also different content may be permitted in different geographies as well. So in certain jurisdictions, you may be able to post cooking content, but not some of the spicier content. So you need to be aware of that as a creator on the platform and operate within your own country's legal system. Speaking of spicy content, about a year and a half ago, only fans announced it was no longer going to allow adult content than a U-turned. Can you explain exactly what happened? So with that, there was a proposed change to our acceptable use policy under our terms of service where we were no longer going to allow explicit content. And what that experience taught all of us at the business, especially myself, was the power and voice of our creator community. I think for that week, it was one of the biggest news stories globally, which is pretty wild. And that really just goes to show when a community's voice is heard. And that's where we were able to reverse the decision and put the power in the hands of our creators. And that was a lesson for myself, which is why I really focus on being a creator-first business. And that's where I've spoken publicly many times this year about embracing our creators, including our adult content creators, and making sure they feel that they have a safe place on the platform, along with other creators. Again, safety is really at the heart of what we do and what's allowed us to be the most inclusive platform. So there wasn't any issue with banking partners or anything like that. I think that was one of the things that... Yeah, I mean, Tim, the former CEO, kind of shared some information with the FT on that, and it's something where, because we are able to, you know, offer a safe place, we have a lot of safety measures and controls in place, and again, the power the community was heard, that's where we're able to continue to be the most inclusive platform. I think as well, when we look at actually the topic of this panel, navigating public opinion, like that is, you know, as Amy said, listening to people when companies propose a change, and everyone goes, whoa, hold on for a second. Are you sure you want to do that? And people reach out to you as well, partners reach out to you, everything else, and able to start that dialogue with people, say, okay, well, we want to keep hosting this content, we want to be an inclusive platform for our adult content creators. How do we get people comfortable with that? What assurances can we give you? How can we be transparent? What can we share about our compliance program? So it's continuing that dialogue, but also listening to critics, right? That's important. You've got to navigate that. You've got to be able to say, okay, well, tell me what your concerns are. Let's talk it through, and it's our job to give people the assurances they need. It's our job to demonstrate our compliance programs and to show the action that we take. Absolutely, and that's been a huge initiative for us this year, especially taking the helm of the business, being able to engage critics or third parties or anyone that may have questions about the platform or think we're something that we're not. And again, clearing all of those misconceptions up. We also launched our Safety and Transparency Center on the website, which really goes into more in detail what we're doing to keep our community of creators and fans safe. Were you surprised by the reaction, by how many people were upset by this potential change? I mean, it's something where everyone's voices were heard. We monitored all the social media mentions, the news articles, and it's, again, it's something that definitely continued to stay with me, and that's why I put creators first in all of our business decisions. Kind of becomes our North Star, right? Like in terms of the thing that we do, every time we think about something, it's what's the impact this is gonna have on our creators. They're our main stakeholders, because we don't allow, we don't have third party advertising on the platform, we don't monetize data in that way. So it's all about the creators, everything we do. So we just announced an e-commerce partnership with Spring, whereby we now allow creators to connect their spring store to their only fans account and sell merchandise direct to fans. And again, that was done because that's what creators wanted. And so that becomes then the guiding principle for us in terms of everything that we do, but you gotta listen to do that. All right, you happy, you don't have to deal with advertising. Yeah. You don't have to go out there and insult them into spending money on your platform. Speaking of making other people comfortable and talking more about your business, last year, one of my colleagues reported that only fans was talking to potential investors, trying to fundraise in the earlier this year. I know you guys had some conversations with special purpose acquisition companies. What were those conversations like? I'm assuming there are lots of questions and lots of discomforts and misconceptions. How did you get through that? Absolutely. So we get approached all the time by, let me look at the audience here. We get approached pretty regularly by people who wanna learn more about the business, are interested in working with us in some capacity. We are a privately held company. We are happy being privately held. We have no plans to make any moves of that sort. But one thing that was reported is that there is a question around the adult content that we have on the platform. And that's something I've been very open about in terms of embracing our adult creators. And if someone's coming and reaching out to only fans, they kind of already know that we're known for adult content, the spicy content. So that's not exactly news, but that's something I want to be clear on where yes, we have adult content creators, we have a range of creators, and right now we're very happy focusing on our creator community looking into the future. We were talking a little bit about advertisers earlier. So is no plans to ever go down that route? No, we get asked that pretty regularly. Again, it's what's best for the creators. We don't want to monetize their data. We collect their information really to keep them safe. That's our priority. And because our business model is so simple and straightforward where it's an 80, 20 split all in favor of the creator, there's no, we don't have a reason to go down that path. It's also not what our users want. That's the thing. And when we talk about the advertising model and look at what's happening on a macro basis with advertising model-led platforms, there's a huge decrease in ad revenue. And they're actually looking to the only fans model and thinking, great, how do I add subscriptions on? How do I find a new way to monetize? And so for us, it makes no business sense to pivot in that direction when that direction appears to be failing and actually people are pivoting in the direction of subscriptions. So when we look at strategic growth and opportunities for us, it's much more around things like, great, let's add an e-commerce option for our creators. Let's work on a technology to help to protect copyright. Let's do other things that really help our creators to succeed because when everyone talks about the success of only fans, the thing that they often forget is that for every dollar we make, creators make four, right? That's nuts. That's like money in the back pocket of ordinary people. And that's an incredible thing. As Amy said, we've paid out 10 billion since we started and that's wild and that's to people, not advertisers. So it's really nice. Speaking of partnerships and extending what creators can do, while reading up for this panel, I saw that there's like in other platforms, people have been building agencies, management companies for only fans creators, which is all so fascinating and interesting that there's businesses being built at top of only fans. At the same time, there's been a lot of reporting around, some creators getting exploited by their management or the agencies that they work with. How do you guys think about this? Because you talk a lot about wanting to keep creators safe and wanting them to be happy and healthy and thriving. And yet this is sort of out of your reach, in a way. I think every creator is their own small business, right? And so it's ultimately we have three million small businesses on our platform and how each creator chooses to manage that small business, whether it's setting subscription prices, their monetization strategy, their content strategy, all of those things, that sits with them and some people choose to use management teams, some people choose to go it alone. It's a real mix within the platform. That's not our call. That's the creators call and it's their business and we're there to help them by helping them to understand their page, understand their fans, understand how their content performs, help them with that side of the business, as opposed to kind of what goes on behind the scenes for them perspective. But when it comes to creator safety, what really matters to us is obviously ensuring that the person who's creating the content is the person who owns the account, is the person who's getting paid for that content. So we're very careful in terms of making sure that the legal name has to match the creator's name and their government ID documents to prevent any exploitation or anything along those lines so that we know that the money is going into the back pocket of that creator. That's the key thing. What happens when you've discovered that that's not the case? If we ever discover anything like that which fortunately is very rare on the platform, we take immediate action. We work with the creator in question. If there's law enforcement or anybody involved, we work with that too. We have a great and proactive relationship with law enforcement and NGOs. We report proactively to a number of different agencies and the key thing for us is knowing that when our creators raise an issue with us or when we become aware of something, we act on it instantaneously. The other great thing is that because we collect information about our creators and our fans to keep them safe, we're able to provide a law enforcement with really actionable rich data so that if there is a bad actor on the platform, we're able to provide something to law enforcement that they can action so they can deal with that bad actor so they can address the issue. And so it really is about keeping the community safe. We also track device ID and IP address to stop people being able to come back with a different username, let's imagine, and do the same bad behavior again. So it means that if you are taken off the platform, you're off the platform permanently. So it's very important to us to make sure that we take action where things occur. Fortunately, it's rare, but when it happens, you've got to make sure you act immediately. OFTV is a newer side of your business. Tell me about that. It's been around for a little bit now. Yeah, so we launched OFTV in 2021 and it's really been another platform that allows creators to have that true freedom of expression. OFTV for those who aren't familiar with it is our free streaming platform and app. It's available in Apple, Android, Roku, Smart TVs. So it's in the app stores. It is all safer work content that's easily accessible and it's only available to only fans creators to submit content to. It is all moderated by our internal teams and that's also where we're starting to invest into original content. Again, because we want to collaborate with our creators and help them express themselves. So for example, we are collaborating with Whitney Cummings. She's a very well-known US comedian on her own show that will debut early next year. She also launched her OnlyFans profile where she's sharing old school comedy roast style jokes which will also be what her show's about and that's content that she can't actually post on other platforms because it may get taken down and that's where we're able to offer her that freedom of expression. We also have a cooking show called This Is Fire. That's a competition show featuring a range of OnlyFans creators so you may see a fitness creator challenging an adult content creator and that's something that's really exciting because we're putting all creators on an equal playing field. We have our other show which is going to be called House of Sims which we're collaborating with Chloe Sims and her family. They were best known for a show in the UK when they left that show after over a decade to come to OnlyFans because they wanted to have control over their narrative and that's something we're able to offer creators not just on OFTV but on OnlyFans. We also have currently in production and this is something I'm personally passionate about our OnlyFans creative fund and that's where we are helping bring opportunities to different creator genres. We've done music, fashion and we're currently focusing on comedy in the UK and that's where one up and coming comedians going to win cash to go towards their career as well as exposure to industry professionals and that's something we're gonna continue because we want to support different creator genres and again be a home for all content creators. And you said no adult content on OFTV? So on OFTV it is out there everywhere on the apps easily available on Roku, Samsung, Smart TVs so it's all safe for work content but if there's a creator you want to learn more about you can then easily go and subscribe to their OnlyFans profile and send them a message. So for example with Winnie Cummings or The Sims or any creator you can then go message that creator on OnlyFans to learn more about the show, more about that and that's something that's really unique when you're thinking about programming and the dynamic between that fan and talent relationship. And since you're developing some of your original content have you earmarked some sort of budget around production? How are you just sort of playing it by ear? We have a budget that we go back to but it's really about again finding the right fit with different creators in our community. And I think the other thing is for us it's about if we get pitched a really great idea we want to be able to explore it right and not be bound by the confines of saying we'll be earmarked a specific amount for just this. And that's the whole thing about it being collaborative with our creators and about it being championing grassroots talent as well as kind of the celebrities of this world because one of the other shows we have is It Sounds Much Better Written Down, LMAOF which is a grassroots comedy show it's currently in the US we film once a month and it's about helping grassroots comedians to start building a fan base. And it's really cool to be able to do that actually and like our creators are generally not just one thing. So most people have a side house or a passion project something else that they're really interested in and being able to say to creators, hey tell us your ideas, bring us your concepts and we'll help you build them because that's what we're here for we're here to make you successful because that's our business model. Yes. Well on that note we're out of time but thank you so much for being here and thank you to the audience. Thank you. You've been great. Thank you.