OnlyFans co-founder aims to fly high with new business plan

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OnlyFans co-founder Tom Stokely is joining forces with Global Airlines, a new airline startup which aimed to offer flights from London Gatwick to New York and Los Angeles, as a rival to British Airways and Virgin Atlantic, the top airlines on the route.

Global Airlines was founded three years ago by James Asquith, a former banker who set the Guinness World Record as the youngest individual to travel to all 196 sovereign nations.

The airline initially planned to have one of its large jets flying across the Atlantic by spring 2024, just three years after the company started.

However, it has postponed the plan for the moment and is now considering using its planes for charter services at major events, such as the forthcoming 2026 World Cup in the US.

Stokely, also a former banker, first met Asquith last year when he became part of the advisory board for Asquith’s travel venture, Holiday Swap, an app which enables homeowners globally to rent out each other’s properties.

OnlyFans was originally launched eight years ago to connect creators with their fans. Today, the London-based subscription social media platform, tailored for adults (18+), is primarily known for being widely used by sex workers to sell their virtual content, making it a rapidly flourishing company.

Its business model is straightforward: creators produce and share exclusive content, and their subscribers pay for access. OnlyFans, in turn, takes a substantial 20% cut from the payments made by subscribers.

In 2022, the platform’s net revenues were at $2.5 billion (€2.3 billion), solidifying its position as one of the most valuable platforms in the adult entertainment industry. It boasted 239 million users and 3.2 million creators at the end of the same year.

Stokely, who held the position of Chief Operating Officer for the platform, sold a major stake to US-based porn entrepreneur Leonid Radvinsky for an undisclosed amount in 2019, at a time when OnlyFans had recorded a £1.7 billion (€2 billion) profit. 

It is not yet clear what role Stokely will have in the new project, which currently involves around 100 individuals, as no specific details have been announced.