The proprietor of OnlyFans, an internet platform utilized by individuals ranging from sex workers to musicians and celebrities, has received dividends totaling $338 million (£268.5 million).
The owner of OnlyFans, a versatile online platform for sex workers, musicians, and celebrities, has received significant dividends totaling $338 million. The parent company, Fenix International, reported a remarkable increase in annual profits, surpassing half a billion dollars. With over three million content creators and nearly 240 million users, OnlyFans continues to thrive. UK-based Fenix's sole shareholder, Leonid Radvinsky, possesses a personal fortune exceeding $2 billion. The platform's growth is evident in the $5.5 billion spent on it in the past year, marking an increase from 2021. Notably, over half of the revenues now come from non-subscription services like tips. While the pandemic boosted OnlyFans' traffic and similar streaming platforms, the gains have lessened with the lifting of restrictions. The platform was founded in 2016 and was later acquired by entrepreneur Leonid Radvinsky in 2018. Radvinsky's estimated net worth is $2.1 billion according to Forbes magazine.
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Fenix International, the parent company, has reported a surge in annual profits, exceeding half a billion dollars.
The platform currently boasts over three million content creators, catering to an audience of nearly 240 million users, often referred to as "Fans."
Leonid Radvinsky, the exclusive shareholder of UK-based Fenix, possesses a personal wealth estimated to surpass $2 billion.
According to documents filed with the UK's Companies House, over the course of the year ending in November 2022, more than $5.5 billion was expended on the OnlyFans platform. This marked an increase from the $4.8 billion spent in 2021.
The company, registered in London, disclosed pre-tax profits of $525 million for the period, contrasting with the $432 million of the previous year.
The roster of creators on OnlyFans experienced a 47% growth, reaching nearly 3.2 million, while user numbers escalated by 27%, nearing 239 million.
Notably, the firm revealed that for the first time, over half of its revenues originated from services outside the subscription model, encompassing tips and on-demand content by creators.
Of the transactions made on the site, the company claims a 20% share, with creators receiving around 80% of the earnings.
"Fenix noted a consistent expansion in both profits and growth for OnlyFans," the company stated in the official filing.
"This mirrors the expansion of the platform in terms of both content creators and fans, alongside the augmentation of earnings for existing content creators," the filing continued.
During the period of COVID-19 lockdowns, OnlyFans, along with other streaming platforms, observed a significant surge in traffic as people remained confined to their residences.
Nevertheless, many of these platforms have witnessed a decline in the gains that were characteristic of the pandemic era, following the easing of restrictions.
Founded in 2016 by Guy and Tim Stokely, a father and son duo, OnlyFans was acquired by Ukrainian-American entrepreneur and owner of a pornography website, Mr. Radvinsky, in 2018.
Forbes magazine estimates Mr. Radvinsky's net worth at around $2.1 billion.
