Kaylah Walton
UFC icon Conor McGregor may not be ready to step back into the octagon just yet, but his entrepreneurial ventures are thriving.
Following his acquisition of a minority share in BKFC, next on McGregor’s investment timeline could be the renowned subscription platform OnlyFans.
Sources indicate that the London-based firm is contemplating a potential sale, which could place the adult entertainment platform’s value at approximately $8 billion.
Conor McGregor in discussions for potential acquisition
Reports suggest that McGregor is keen on finalizing the deal. In a recent update on his Instagram, “Mystic Mac” stirred excitement by announcing: “I’m in serious negotiations to acquire it“.
Nonetheless, this venture faces significant challenges. In the fiscal year concluding in November 2023, OnlyFans reported an impressive revenue of $1.3 billion and a pre-tax profit of $658 million.
The platform distributed a remarkable $6.6 billion to its creators, with commissions capturing 20% of that total. Additionally, its owner,
Leonid Radvinsky collected over $1 billion in dividends from OnlyFans from 2021 to 2023. The platform showcases a robust financial position with substantial cash reserves.
Often hailed as a game-changer in digital media, OnlyFans supports creators who produce adult-oriented content.
Overall, it’s viewed by the public primarily as an adult content site, leading to debates regarding its ethical standing. Currently, various nations are contemplating restrictions or outright bans on the service.
An insider from OnlyFans has expressed strong reservations: “They are targeting billionaires and trying to market it not as a site for adult content, but more like X, while it still allows adult material,” the insider noted. “However, the prevailing view remains that OnlyFans is fundamentally an adult content platform.”
Another significant concern arises from new legislation in Sweden that may affect OnlyFans’ market viability. The recently enacted law could lead to imprisonment for users purchasing specific live content on the platform.
Why is this happening? Under the newly passed law, purchasing adult content on OnlyFans will soon be equated to soliciting a prostitute in Sweden, which is a punishable offense in that country.
