Just like how Nokia had its Vertu mobiles, every business today has its premium dimension. The premium offering becomes relevant if the consumers are willing to pay for it, and the product or the offering is considered to be worth the stipulated price.
When it comes to social media, it is the celebrities who hold the position of being the premium offerings. The celebrities also have a constant need to stay in touch with fans, their requirements, and their emotions so that they can plan their next move wisely. Given the fact that about 80% of the Internet users have at least a single social media account, there cannot be a better place for celebrities to connect with crazy fans.
A Few Big Names
Connecting the first paragraph with the next, it would surely be a great business idea to have a premium social media app that can connect celebrities with their fans. This has been adequately taken care of by a couple of apps – Cameo and OnlyFans. While OnlyFans focuses on a premium subscription where the users will have to pay even to access the content, Cameo is more of a celebrity video-sharing app.
The segment of premium social media might seem monotonous to start with, but multiple layers that can be uncovered, leading to multiple dimensions of business and profits. Let us look at a few examples.
- Greetly, founded in 2014, helps fans have personal interactions with their favorite celebrities, influencers, and artists for a payment.
- CelebVM- it’s a celebrity video messaging app that facilitates requesting personalized messages from celebrities for a 15% commission on the fees paid to the celebrity.
- FanCentro is a subscription-based video sharing platform most prominent among the adult film performers, and its usage saw an unprecedented surge because of the COVID-19 pandemic.
The Business Models
From the above examples, it can easily be inferred that there are a lot of business models that an aspiring entrepreneur can look forward to if they would like to start a premium social media app.
The gaming model has been popularized by Kim Kardashian. You can engage in celebrity mobile games, which give you a feeling of belongingness. It also assists in building brand-value for the celebrity. The revenue can be earned through subscription programs and in-app purchases. However, it should be remembered that the marketability of this model heavily depends on the popularity of the celebrity.
The content sharing model is probably the simplest and most straightforward sharing platform. Using this platform, followers can get and also request personalized sessions with celebrities. While a good chunk of the content can be made free, the app can incorporate a freemium model where followers can be an additional amount for getting access to exclusive content, which is not available anywhere else. Cameo falls into this category.
Premium content social media is quite similar to Facebook or Instagram, but the only key difference is that the access to content is made available only when users pay a certain access fee. Celebrities can share exclusive images or videos with followers. Even within these premium social media platforms, you can still have exclusive content that can be additionally charged. OnlyFans is a perfect example of this business model.
The Monetization Models
There are different ways in which you can earn your revenue from an app like OnlyFans. In fact, it is the mutual profitability board for the business and the celebrities that have heavily contributed to the seething success of premium social media apps, especially during the COVID-19 induced lockdown.
As we have already seen, the most simple and straightforward method using which the app churns its revenue is by offering a subscription for the music. If you intend to build an advanced app like OnlyFans, you can even have different subscription plans that we are in by price and, proportionally, the extent of access it allows to premium content. The subscription amount can also be connected on a monthly or yearly or even a lifetime basis, providing suitable discounts.
The app can also learn by running advertisements within its interface. You can partner with clothing and accessory brands, and even upscale restaurants and pubs in a particular locality, so they can increase their visibility using your app. You can get paid either by the number of times an ad is shown or by the volume of business that you have brought for them.
Your app can also earn from in-app purchases. Just waiting on celebrities and influencers in Garza’s particular brand or product. You can run a market place or at least an affiliate program right within your hand, so you get paid for the merchandise or products that you sell through your app.
We have already seen that celebrities can use this platform for fundraising. The app can take a percentage of the funds collected in the campaign. It is to be noted that this earning avenue might not be available frequently.
The Features Of App Like OnlyFans
It is not the offering but rather the exclusivity that makes premium social media platforms marketable. Therefore, these platforms need to be built with features that give a premium ceiling to the customers along with a sense of exclusivity. As you may have inferred, a premium social media app has two distinct entities, one for the follower and the other for the celebrity.
- The follower should be able to easily register using valid credentials, and if possible, they should be able to use existing credentials from social sites like Google and Facebook as well.
- They should be able to easily browse and follow celebrities using a search bar with filter options.
- They should be able to place a request for new videos and photos from celebrities, and if possible, also request for a one-on-one chat with them.
- They should be updated with post notifications if one of the celebrities they follow shares a content. This should also go in line for special calendar events and availability of premium contents.
- They should be able to record personalized shout outs and should be able to access and share them across multiple social media platforms.
- Just like the user, the celebrities should also be able to easily onboard/register with. They should provide additional information like their social media handles if possible, to come out mobile numbers for displaying to the users.
- They should be able to schedule that process in advance giving an impression that they are constantly engaging with their fans.
- The celebrity should be able to run fundraising activities for both social causes and personal development.
- They should have a feature where they can chat with followers who have requested shout outs. The action also is integrated with a calendar where the celebrity can track their chat appointments and the upcoming sessions.
Overseeing both the followers and the celebrities should be an administrator bestowed with the power to enable or disable users and celebrities. They should also be able to view a snapshot of the total number of active users, the total earnings, the commissions, and every other vital stats considered important for the app’s performance and financial health.
The administrator is also responsible for providing customer support and if need be, the process can be delegated to a suitable team.
The COVID-19 Interregnum
The COVID-19 pandemic has resulted in a lot of professions being upturned in a flash. What was once considered to be one of the most profitable and recording has now plummeted to the depths of uncertainty. Premium social media apps are not only driven by the craze of the followers but also the need for celebrities belonging to certain segments to earn, even during testing times like these.
A premium social media app like OnlyFans or Cameo would now be a lucrative business idea. You will, however, need to identify a specific niche where you can mark your influence.
The technology that is needed for a premium social media app can be made available through an OnlyFans clone script. And OnlyFans clone is easy to customize, and it can be embellished with features that make it perfectly fall in line with your business requirements.