OnlyFans Pays Out $338 Million in Dividends to Owner As Revenues Soar
OnlyFans, the versatile online platform catering to a wide array of content creators including sex workers, musicians, and celebrities, has disbursed a staggering $338 million in dividends to its Ukrainian-born owner, Leonid Radvinsky. The platform, known for its subscription-based streaming services, has released its annual financial results through Companies House, the esteemed UK corporate registry.
The financial figures unveiled paint a robust growth trajectory for OnlyFans, with payment transactions surging to an impressive $5.6 billion in 2022, a remarkable rise from $4.8 billion recorded in 2021. The platform’s parent company, Fenix International, established in the UK, posted a commendable 17% growth in revenues, crossing the $1 billion mark.
Notably, pre-tax profits escalated to $525 million from $432 million, underlining the company’s financial prowess. From this, a substantial portion of $338 million found its way to Radvinsky as dividends.
The year 2022 marked a turning point as non-subscription services such as tips, on-demand content, and private messaging emerged as a dominant revenue stream, constituting over half of the total earnings. The platform witnessed a substantial surge in both “creator” accounts, which surged by 47% to reach 3.1 million, and fan accounts, escalating by more than a fifth to 238.8 million.
It’s noteworthy that OnlyFans retains approximately one-fifth of the payments directed towards its content creators.
While many online streaming platforms faced post-pandemic challenges as lockdown measures eased, Middlesex-based OnlyFans demonstrated remarkable resilience, defying the odds to exhibit continued growth. The platform, currently standing as one of the United Kingdom’s leading private tech entities, emerged as a beacon of success during this period.
Keily Blair, the Chief Executive of OnlyFans, who took the reins from Ami Gan in June, expressed, “These results underscore OnlyFans’ preeminent standing as the foremost platform for monetizing creative content, and they mirror the platform’s enduring influence on the creator economy.”
Founded in 2016 by Tim Stokely and his father Guy, OnlyFans underwent a change of ownership in 2018, transitioning to Radvinsky, an enterprising figure with a diverse portfolio including ownership of porn sites. Blair reiterated the company’s commitment to providing a secure and conducive environment for creators over 18 years of age to monetize their content, own their copyrights, and connect with their fan base.
Back in September 2022, it was reported that Radvinsky is said to have made about $517 million in dividends since the beginning of 2021, thanks to the subscription platform’s surging profits during the pandemic.
Information for this briefing was found via Financial Times, BBC, and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
