MYM, OnlyFans' French Rival, Taps DJ Snake to Expand Beyond Porn

    MYM, a French rival to OnlyFans, is expanding its focus beyond the adult entertainment.
    By: BLOOMBERG
    | Updated on: Oct 05 2022, 22:23 IST
    OnlyFans
    MYM, a French rival to OnlyFans Ltd., is expanding its focus beyond the adult entertainment.  (AP)
    OnlyFans
    MYM, a French rival to OnlyFans Ltd., is expanding its focus beyond the adult entertainment.  (AP)

    MYM, a French rival to OnlyFans Ltd., is expanding its focus beyond the adult entertainment as it looks to attract outside investors for the first time, in a round set to kick off next year.

    The company has struck a deal with DJ Snake, the stage-name for French musician William Grigahcine, who co-wrote hits including Turn Down for What and Lean On. MYM has 350,000 creators on its platform, who distribute exclusive photos and videos to paying subscribers.

    Grigahcine said he'll offer exclusive updates to his subscribers for 5.99 euros ($5.95) a month. MYM keeps a 20% cut of subscriber fees, similar to OnlyFans. He also plans to live-stream DJ sets and tease his future singles on MYM, but he won't upload entire songs, whose rights are owned by Universal Music Group.

    “I will share my daily life with my community, and make them win exclusive experiences, like traveling with me, following me on tour,” said Grigahcine, who has 10 million Instagram followers, in an interview.

    The company is looking for outside investment for the first time next year after being bootstrapped, its founders said, declining to elaborate on how much they plan to raise. While about 25% of the content published on MYM could be described as “not safe for work,” it's working to diversify into areas including online learning, fitness training and music, according to its founders. The company also aims to expand outside of France, where 75% of its users are based, into US and the rest of Europe.

    Its push for more safe-for-work content reflects a similar effort from OnlyFans, which has also promoted its cooking classes, musicians and fitness-focused accounts as it works to add users. OnlyFans posted pretax profit of $433 million for 2022, seven times more than it earned in the previous year. It said it has 220 million users worldwide.

    “In the history of every new market, there is always adult content coming first, because that field understands before the others how to make money,” MYM Co-Founder Gaspard Hafner said in an interview.

    Bootstrapped in 2019 by co-founders Pierre Garonnaire, 37 and Hafner, 35, MYM will also use money from the fundraising round to target ads to gain new users and creators. MYM had sales of 60 million euros last year, and projects it can earn 100 million euros in 2022 and 250 million euros in 2023.

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    First Published Date: 05 Oct, 22:01 IST
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