Owner of OnlyFans paid $631m as subscriptions rise

Leonid Radvinsky, the Ukrainian-American owner of OnlyFans, has pocketed an astonishing $631 million over the past two years, as the platform’s traffic continues to skyrocket. His earnings come on the back of OnlyFans’ impressive growth, attracting millions of new users and content creators.

According to recently filed accounts from Fenix International, the company behind OnlyFans, pre-tax profits for the platform reached $658 million in the year leading up to November 2023. The report also highlighted that close to one million new content creators and over 50 million fans joined the site during that period, marking a significant 29% increase.

While OnlyFans is known for its adult content, the platform has expanded to host creators focusing on a variety of topics, including fitness, music, and comedy. In 2023, it even launched a pornography-free TV streaming service to diversify its offerings.

Radvinsky’s Massive Payday

Radvinsky’s impressive payday includes $472 million in dividends up to November 2023, with an additional $159 million in the following months. This comes on top of the $338 million he earned in 2022, bringing his total earnings to nearly $1 billion in just three years. Forbes Magazine now estimates his net worth at $3.8 billion.

The platform’s huge profits have been achieved with a lean operation consisting of only 41 staff members and one director. Despite its small team, OnlyFans managed to generate a substantial $6.6 billion for its content creators in 2023, taking a 20% cut from each creator’s earnings.

Investigations Amid Success

Despite its financial success, OnlyFans is currently under investigation regarding concerns about children accessing explicit content on the platform. In May, UK regulator Ofcom raised concerns that the platform wasn’t doing enough to prevent minors from viewing pornography. At the time, OnlyFans attributed the issue to a “coding configuration” problem, which it said affected some age restrictions. However, it maintained that these thresholds were always set above 20.

Keily Blair, OnlyFans’ CEO, expressed pride in the company’s achievements in 2023, calling it a “strong year” for the platform. Furthermore, she credited the success to their ongoing commitment to providing creators with opportunities to grow their fan base while monetizing their content.

With its head office based in London, OnlyFans continues to evolve, gaining more traction globally, while Radvinsky resides in Florida, overseeing the platform’s phenomenal growth.