MYM.fans, a French startup in what it calls the “passion economy”, is seeking to raise funds for a global expansion project to take on goliath video-sharing rival OnlyFans.
As part of its push into the market, MYM has recruited popular French artist DJ Snake as an ambassador, who has also become a shareholder in the company.
Il est là !???? @djsnake nous rejoint en tant qu’actionnaire, ambassadeur et créateur MYM.Avec #djsnake à nos côtés, nous affirmons nos ambitions internationales et tout le potentiel que représente #MYM pour les artistes et tous les Créateurs qui veulent vivre de leur passion. pic.twitter.com/XEpPF0P397
— MYM (@mym_fans_) October 5, 2022
MYM, short for ‘Me. You. More.’ was created by entrepreneurial duo Pierre Garonnaire and Gaspard Hafner in 2019.
According to numerous Frech reports, MYM generated €60mlm (£52mln) in revenues and is hoping to generate €100mln by the end of 2022, but it is not clear whether this pertains to creator revenues or company revenues.
Garonnaire recently told Oest France that MYM has nine million users, 300,000 of whom are “really active”.
By comparison, OnlyFans has some 200 million users, content creators raked in US$4bn in 2021 alone, and the company netted US$433 in pre-tax profits.
MYM has the same revenue model as OnlyFans: A 20% cut of all creator profits.
But while London-based OnlyFans has spread its wings across the globe, the vast majority of MYM’s users are based in France.
Now, MYM is seeking money to expand. Part of this strategy will be diversifying away from its “not suitable for work” image.
Sex sells
Though MYM homepage goes to lengths to tout a diversity of creators, from chefs and fitness instructors to musicians, a quick tour of Twitter’s #mymfans hashtag is decidedly more risque.
Part of OnlyFans’ success – it’s potentially one of the UK’s top unicorns at the moment – has been the increasing acceptance of sharing adult content between creators and users.
The ethics of such are a matter of personal opinion, but as we all know, sex sells, and MYM evidently wants a larger piece of the tarte.
Garonnair did suggest that only 25% of MYM’s content is now pornographic. This reporter twice attempted to create an account to make an independent analysis, but alas, both registrations faired. C’est la vie.
Proactive has reached out to MYM for a comment.