Spencer Michael Barrick (better known as his adult performer name Damon Dice) has not only built a successful career starring in adult films. He‘s also become an entrepreneur leveraging new internet platforms to take control of his own media distribution. And he‘s venturing into emerging lifestyle markets like cannabis, betting big on the continued mainstreaming of formerly taboo industries.
The OnlyFans Phenomenon Reshapes Adult Entertainment
OnlyFans has fundamentally changed internet porn. The subscriber-based social platform allows adult performers to create profiles, share exclusive videos and photos, message fans directly, and build their own subscriber base.
It‘s proven massively lucrative for creators. As Spencer Michael Barrick shared on the Well Connected podcast:
"I know people that have made over $300,000 a month on OnlyFans. One girl made a million dollars in her first six months. It‘s insane, people are making a ridiculous amount of money."
Unlike old-school porn studios that paid a daily rate for film shoots, OnlyFans lets performers own their content and brand. Top OnlyFans creators can make per month what a typical porn star makes in an entire year working for studios.
CNBC profiled one performer making over $500k a month. Another told BuzzFeed she nets over $300k a month after paying assistants and photographers. These sums were unheard of in the days of DVD porn sales and studio shoots.
| Creator | Reported Monthly Earnings |
|---|---|
| Spencer Michael Barrick | $50-100k |
| Bella Thorne (actress) | $1 million+ |
| One "top 0.01%" creator | $500k |
| Unnamed creator | $300k |
(earnings are self-reported or estimated)
Extrapolating self-reported earnings, top creators likely generate tens of millions in annual income solely from OnlyFans subscriptions and tips.
The platform itself pulled in over $2 billion in sales in 2020 and is continuing rapid growth. With over 1 million creators and 150 million users as of late 2021, OnlyFans takes a 20% cut of creator earnings. That likely puts OnlyFans measured in the billions of dollars in terms of yearly revenue.
Spencer Michael Barrick got his start performing under exclusive contract for major studios like Brazzers and Reality Kings. While popular, he freelanced shoots for $1500 or less per scene. The structure limited his earning power.
Through OnlyFans‘ performer-centric model, Barrick expanded his subscriber base and took control of production. He began earning 50X or more compared to his early studio shoots.
"It‘s absolutely life changing money. My OnlyFans pays for my house, my cars, everything… I know people making millions per year off that site,” Barrick shared.
The adult industry is notorious for exploitation, harsh contracts, and burnout. But OnlyFans uniquely empowers individual porn stars with ownership of creative content, distribution, fan relationships and ultimately financial success.
Move Over Silicon Valley: Adult Stars Exploring New Ventures
The autonomy and wealth flowing to top OnlyFans performers has enabled new pursuits beyond just internet porn. Spencer Michael Barrick personifies this entrepreneurial trend.
Seeing massive growth potential at the intersection of cannabis and sexual wellness, Barrick recently co-founded a company called Plus One. It sells a product line of cannabis lubricants, suppositories, and other intimacy enhancers.
”My friend…used to play in the NFL. We were talking one day about business ideas, and we both saw this huge opportunity," Barrick described about conceiving the idea.
The cannabis sexual wellness category uses compounds like THC and CBD to address medical needs and enhance experiences. Cannabis lubes offer natural anti-inflammatory and pain relief benefits helpful for conditions like endometriosis. Increased blood flow also improves physiological arousal. Beyond medical uses, cannabis intimacy products also claim to heighten sensations and orgasms for recreational purposes.
Barrick also sees applications for workplace wellness. His new company Street Candy makes CBD oral hygiene products like toothpicks.
"It allows the CBD to get absorbed under your tongue and enter your bloodstream faster…I think it‘s a total game changer, especially for people going to work," Barrick explained. The discrete product provides calming CBD effects without smoking or vaping.
The cannabis sexual wellness industry is projected for 25% CAGR growth over 5 years, reaching $74.7B by 2026. CBD alone could grow into a $22B market in the US by 2022 based on Brightfield Group estimates. Spencer Michael Barrick has placed early bets in these red hot categories.
The Mainstreaming of Taboos: Porn, Pot and Wellness Converge
Behind OnlyFans‘ success enabling entrepreneurial adult performers is a perfect storm of technology, regulation, and cultural attitude shifts.
Internet platforms have allowed taboo industries to scale rapidly just as their social acceptance increases. Twenty years ago purchasing a specialty "marital aid" product meant a trip to a dingy sex shop‘s backroom. Now brands like Maude and Lovers sell sexual wellness alongside breathable sheets and ergonomic chairs. Cultural mores have dramatically shifted.
Attitudes towards cannabis also rapidly improved with widening legalization. Roughly 70% of Americans now support full federal legalization. The SAFE Banking Act regulating financial services would further mainstream cannabis markets. These tailwinds benefit ancillary industries like sexual wellness integrating cannabis compounds for medical uses and adult recreation.
Investor attitudes follow societal shifts. New VC funds like Merida Capital specifically target cannabis markets. PLUS created a $50M fund dedicated to sexual wellness startups covering hardware, biotech, platforms, and more. The firm rings Nasdaq‘s opening bell bringing further mainstream visibility.
Spencer Michael Barrick embodies porn and cannabis converging. As an internet-famous porn star, he built the audience and capital to explore new ventures. Investor Jason Sugarman (founding PLUS Capital) explained the ethos:
"The performers are really the best vehicle for these products…They have the audience‘s attention."
Stars like Barrick attract open-minded early adopters for products still considered taboo. Their influence will further accelerate mainstream consumer adoption.
The Path Ahead
Spencer Michael Barrick leveraged internet platforms like OnlyFans to gain independence from traditional studios and earn lifechanging creator income. The financial flexibility let him shift to founder and explore new markets like sexual wellness and cannabis.
Barrick proves porn stars are now expanding beyond performing to exercise creative business influence. As investor Jason Sugarman assesses:
"These performers are CEOs and founders in their own right…running multi-million or multi-hundred-million dollar businesses.”
The success of platforms like OnlyFans echoes the power shift happening across entertainment. Musicians likewise use Patreon to earn directly from superfans vs relying solely on labels and charts. Video stars thrive on YouTube compared to chasing TV studios and cable networks. Distribution and monetization models flipped to favor talent over intermediaries.
Spencer Michael Barrick sits at a fascinating intersection amidst these shifts with massive tailwinds for growth. Internet-enabled connectivity allows taboos to emerge from shadows benefiting associated lifestyle markets. Cannabis legalization similarly creates investment opportunities as attitudes liberalize. Spencer and peers will continue pushing boundaries in business venturing beyond their initial fame.
The next generation raised on streaming entertainment embraces ownership of creative passion projects over traditional office jobs. Meanwhile global connectivity normalizes previously obscure or forbidden topics. The world‘s Spencer Michael Barricks stand well-positioned to ride these waves as entertainment and "vice" industries converge with technology and wellness. Just don‘t expect old assumptions about "conventional" business wisdom to apply.