Accounts released by parent company Fenix International have revealed that the adult subscription platform, Only Fans witnessed a boost in profitability. The platform had almost 3.2 million content creators in 2022, up 47% when compared with the year before. Meanwhile, the total number of fans on the platform is up 27% to 238.8 million. Leonid Radvinsky, a Ukrainian-American entrepreneur who owns adult websites, is its only shareholder.
Amid a surge in popularity, OnlyFans has paid out $338 million (£268 million) in dividends to its sole shareholder, Ukrainian-American entrepreneur Leonid Radvinsky, who also owns adult content websites.
OnlyFans platform’s profits soar: Nearly 3.2 Million Creators
Parent company Fenix International’s released accounts reveal the adult subscription platform’s substantial profitability increase.
In 2022, the site saw a 47% rise in content creators, reaching almost 3.2 million, while the number of fans grew 27% to 238.8 million.
The platform’s pre-tax profit soared to $525 million (£417 million), significantly surpassing the £374 million achieved in 2021.
The site enables sex workers to post explicit content for which users pay a subscription fee, with creators keeping 80% of their earnings.
It generated a total of $5.6 billion (£4.4 billion) from fans accessing adult content in 2022. While primarily known for adult material, OnlyFans has also started hosting safe-for-work videos, diversifying its content offerings.
The company stated its mission is to build a safe social media platform that empowers content creators.
It paid over £87 million (£69 million) in corporation tax in the past year and has also faced scrutiny regarding its advertising, with billboards featuring an OnlyFans model sparking complaints.
The UK’s advertising watchdog cleared the billboards, deeming them unlikely to cause offense.
