OnlyFans owner Leonid Radvinsky receives $338m payout
The owner of OnlyFans, the online platform used by sex workers, musicians, celebrities and more, has been paid $338m (£268.5m) in dividends.
Its parent company, Fenix International, says annual profits jumped to over half a billion dollars.
The platform says it now hosts more than three million creators, serving almost 240 million users, or “Fans”.
UK-based Fenix’s sole shareholder, Leonid Radvinsky, has a personal fortune estimated at more than $2bn.
In accounts filed at the UK corporate registry Companies House, the firm said more than $5.5bn was spent on the OnlyFans platform in the year to the end of November 2022. That was up from $4.8bn in 2021.
The London-registered firm said pre-tax profits for the period reached $525m, up from $432m the previous year.
The number of creators on OnlyFans jumped by 47% to almost 3.2 million, while the number of users rose by 27% to close to 239 million.
The company also said that for the first time more than half of its revenues were from non-subscription services such as tips and on-demand content by creators.
The firm said it takes a fifth of the payments made on the site, with around 80% going to creators.
“OnlyFans recorded sustained growth and profitability,” Fenix said in the filing.
“This reflects both the platform growth, in terms of number of content creators and fans, as well as growth in existing content creators earnings,” it added.
Traffic soared for OnlyFans and other streaming sites during the coronavirus lockdowns as people were stuck in their homes.
However, many of those platforms have seen the pandemic-era gains drop away after restrictions were lifted.
OnlyFans was founded in 2016 by father and son team Guy and Tim Stokely.
They sold the company to Ukrainian-American entrepreneur and porn site owner Mr Radvinsky in 2018.
Mr Radvinsky has an estimated net worth of $2.1bn, according to Forbes magazine.
Source: BBC
