Brands are constantly working to stay ahead of trends on social media, and that can mean reassessing the very platforms they're using. For some, that means figuring out how to authentically produce TikToks and Instagram Reels. For fashion designer Rebecca Minkoff it means taking her brand to OnlyFans.
The site allows users, or 'Fans,' to pay brands, celebrities, and everyday people for exclusive content. At the beginning of the pandemic in March and April 2020, the platform experienced a 75 percent monthly increase in new user and creator registrations. The site quickly became known for explicit content and democratizing sex work. Now it boasts 100 million active users and more than one million creators. According to OnlyFans, the site gains up to 500,000 new users per day. Beyoncé even rapped about the site in her verse for Megan Thee Stallion's remix of 'Savage,' singing "Hips tik tok when I dance/On that Demon Time, she might start an OnlyFans."
Minkoff said it's the high level of exposure that first drew her to the platform. "When you see people like Cardi B or Michael B. Jordan going on to a new platform I say okay, let's give this a shot." The designer said she sees it as a new avenue to connect with her "most diehard, most dedicated fans" in a meaningful way.
There are concerns over people's willingness to visit the site, considering the content it's known for. Minkoff told Cheddar that she spoke with the CEO of OnlyFans directly and was assured that if her fans don't want to see the more explicit content on the platform, they won't. "There isn't an algorithm that's going to push you content you do not intend to see," Minkoff said. "You have to seek out the creator that you want."
Minkoff believes the real value in the future of the platform will grow from creators like herself along with celebrities and other brands. The designer and businesswoman has a long history of supporting and empowering other female founders. Along with behind-the-scenes looks at her design process, her OnlyFans account will eventually offer one-on-one mentoring sessions and video series.
"People can pay as little as $3 or $5 for an hour of mentoring with me," Minkoff told Cheddar. "Which is truly invaluable when you're just starting out and you need some advice."
The veteran designer originally launched the platform to highlight her New York Fashion Week show last week. The brand was able to host an in-person audience, which required an immense amount of coordination and planning. Minkoff says models and staff were tested before the show and everyone had to fill out extensive paperwork ahead of time. Guests sat six feet apart and were required to wear masks at all times. The show featured a botanical garden tucked into a New York City greenhouse boasting "the freshest air that New Yorkers haven't smelled in months"
Minkoff said the impact of an in-person show was overwhelming. "There was a feeling of joy of seeing plants that are alive, of seeing community, of seeing friends, and people were like, 'Thank you for doing this. Thank you for showing that we can get back to work and we can do it safely. And we don't need to have the constant fear and panic set in.' There is a path to do whatever work we do, and be caring and cautious, but still create joy."
Nvidia on Wednesday became the first public company to reach a market capitalization of $5 trillion. The ravenous appetite for the Silicon Valley company’s chips is the main reason that the company’s stock price has increased so rapidly since early 2023.
Chris Williamson, Chief Business Economist at S&P Global, breaks down September’s CPI print and inflation trends, explaining what it means for markets.
A big-screen adaptation of the anime “Chainsaw Man” has topped the North American box office, beating a Springsteen biopic and “Black Phone 2.” The movie earned $17.25 million in the U.S. and Canada this weekend. “Black Phone 2” fell to second place with $13 million. Two new releases, the rom-com “Regretting You” and “Springsteen — Deliver Me From Nowhere,” earned $12.85 million and $9.1 million, respectively. “Chainsaw Man – The Movie: Reze Arc” is based on the manga series about a demon hunter. It's another win for Sony-owned Crunchyroll, which also released a “Demon Slayer” film last month that debuted to a record $70 million.
The Federal Aviation Administration says flights departing for Los Angeles International Airport were halted briefly due to a staffing shortage at a Southern California air traffic facility. The FAA issued a temporary ground stop at one of the world’s busiest airports on Sunday morning soon after U.S. Transportation Secretary Sean Duffy predicted that travelers would see more flights delayed as the nation’s air traffic controllers work without pay during the federal government shutdown. The hold on planes taking off for LAX lasted an hour and 45 minutes and didn't appear to cause continued problems. The FAA said staffing shortages also delayed planes headed to Washington, Chicago and Newark, New Jersey on Sunday.
Boeing workers at three Midwest plants where military aircraft and weapons are developed have voted to reject the company’s latest contract offer and to continue a strike that started almost three months ago. The strike by about 3,200 machinists at the plants in the Missouri cities of St. Louis and St. Charles, and in Mascoutah, Illinois, is smaller in scale than a walkout last year by 33,000 Boeing workers who assemble commercial jetliners. The president of the International Association of Machinists says Sunday's outcome shows Boeing hasn't adequately addressed wages and retirement benefits. Boeing says Sunday's vote was close with 51% of union members opposing the revised offer.
The stunning indictment that led to the arrest of more than 30 people — including Miami Heat guard Terry Rozier and other NBA figures — has drawn new scrutiny of the booming business of sports betting in the U.S. The multibillion-dollar industry has made it easy for sports fans — and even some players — to wager on everything from the outcome of games to that of a single play with just a few taps of a cellphone. But regulating the rapidly-growing industry has proven to be a challenge. Professional sports leagues’ own role in promoting gambling has also raised eyebrows.
Tesla, the car company run by Elon Musk, reported Wednesday that it sold more vehicles in the past three months after boycotts hit hard earlier this year, but profits still fell sharply. Third-quarter earnings fell to $1.4 billion, from $2.2 billion a year earlier. Excluding charges, per share profit of 50 cents came in below analysts' estimate. Tesla shares fell 3.5% in after-hours trading. Musk said the company's robotaxi service, which is available in Austin, Texas, and San Francisco, will roll out to as many as 10 other metro areas by the end of the year.
