Report Finds OnlyFans as Most Profitable Side Hustle, Surpassing DoorDash and Instacart
In today’s challenging economic climate, many individuals are seeking ways to supplement their income through side hustles. And according to a recent report, the most lucrative side hustle of them all is on the adult site OnlyFans.
The report, conducted by tax filing service Keeper, analyzed a sample of approximately 2,200 individuals who submitted W-2 and 1099 forms last year. It revealed that those who stripped down on OnlyFans earned a median annual income of $4,995. This staggering figure outperforms other popular side hustles such as working at Walmart or participating in food delivery services like Instacart, GrubHub, and DoorDash.
The findings of this report shed light on the growing trend of side hustles in America. According to a survey conducted by Bankrate, nearly two in five Americans currently have a side hustle. This highlights the importance of supplemental income in today’s economy, where budgets are tight and inflation is high.
OnlyFans, launched in 2016 as a subscription-based social media platform for sex workers, has experienced a surge in popularity during the COVID-19 pandemic. However, the platform has also faced criticism and regulatory scrutiny. In an effort to expand its appeal to more conservative audiences and avoid regulatory backlash, OnlyFans has attempted to pivot away from explicit content. Nevertheless, the platform remains a highly profitable venture for freelancers and creators.
While OnlyFans reigns supreme as the most profitable side hustle, other options still offer significant additional income. Working for Walmart, for example, provided an annual income of $3,677 according to Keeper’s report. Similarly, Instacart delivery drivers earned a median annual income of $3,445, while GrubHub contractors made $3,085 per year.
However, not all side hustles are created equal. DoorDash workers earned a median annual income of $2,636, and those working for Amazon Flex brought in $3,229 per year. The ride-hailing services Uber and Lyft proved to be less lucrative, with Uber drivers earning $2,092 annually and Lyft drivers making $1,551.
Despite OnlyFans’ success as a side hustle, the platform has faced its fair share of challenges. In 2021, OnlyFans initially announced plans to ban sexually explicit content from its site, causing an uproar among creators who rely on it as their primary source of income. The backlash prompted OnlyFans to reverse its decision and maintain its explicit content policy.
High-profile individuals in the sex industry have also encountered difficulties with mainstream financial institutions. In early 2022, Wells Fargo terminated the bank accounts of several individuals without providing an explanation. This highlights the ongoing stigmatization and challenges faced by those in the adult entertainment industry.
Since its inception, OnlyFans has paid out over $8 billion to its creators. This staggering figure demonstrates the immense financial potential of the platform when it comes to side hustles. However, it also raises questions about the future of the platform and the industry as a whole in the face of regulatory scrutiny and shifting societal attitudes.
As more individuals seek ways to supplement their income, the landscape of side hustles continues to evolve. OnlyFans has emerged as a clear frontrunner in terms of profitability, but it remains to be seen how the platform will navigate the challenges it faces. In the meantime, those looking to boost their earnings should consider exploring various side hustle options and evaluating their potential for financial success.
