The Business of Porn Explained: Lessons From the ‘Hot Money’ Podcast

'Hot Money: Who Rules Porn?' is an investigative podcast series that delves into the power dynamics and financial structures of the online adult entertainment industry, revealing who truly controls these platforms

The podcast, produced by the Financial Times and Pushkin Industries, uncovers how technology, corporate acquisitions, and financial strategies have transformed the industry, impacting both internet infrastructure and societal norms around sexual expression

Through episodes, journalists Patricia Nilsson and Alex Barker explore the influence of money and decision-making, illustrating how a small group of executives have gained substantial wealth and power

The series highlights the significance of understanding online pornography's power structures as a way to comprehend digital platform operations and the influence of payment networks on online businesses

The podcast's storytelling blends financial analysis with human narratives, making it accessible to those interested in business, technology, and media, regardless of their views on the porn industry

The series discusses how tube sites like YouPorn and Pornhub disrupted the traditional adult industry, drawing a parallel to other online sectors but with unique legal and ethical challenges

A key episode examines Fabian Thylmann's role in consolidating major pornographic sites and introducing Wall Street money to the industry, setting the stage for today's online landscape

The podcast also investigates the mysterious purchase of Thylmann's company by Bernd Bergmayer, revealing the use of shell companies and pseudonyms to conceal ownership

It explores the adult industry's influence on internet laws, highlighting its role in developing content moderation, live streaming, and online payment systems foundational to the internet

The series underscores the decisive power of payment companies, such as Visa and Mastercard, in controlling content, demonstrated by their impact on Pornhub's payment services

The podcast also examines the rise of new power players like WGCZ and OnlyFans, illustrating ongoing conflicts between business interests and creator autonomy

Ultimately, 'Hot Money' reveals how financial power shapes cultural expression and technology, emphasizing the critical role of payment infrastructure in today's digital age