OnlyFans owner receives $338mn in dividends

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OnlyFans, the online platform used by sex workers, musicians and celebrities for subscription streaming services, has paid Ukrainian-born owner Leonid Radvinsky $338mn in dividends.

In accounts filed at Companies House, the UK corporate registry, OnlyFans said payments made through its platform rose to $5.6bn in 2022, up from $4.8bn in 2021.

Its UK-based parent company, Fenix International, said in financial results for the year ending in November 2022 that its revenues grew 17 per cent to more than $1bn. Pre-tax profits rose to $525mn from $432mn, according to the company, with $338mn going to Radvinsky through dividends.

For the first time, more than half of revenues were made from non-subscription services such as tips, on-demand paid content and private messaging.

The total number of “creator” accounts grew to 3.1mn, up 47 per cent, while fan accounts rose more than a fifth to 238.8mn. The OnlyFans platform takes about a fifth of payments generated by its creators.

Online streaming sites prospered during the pandemic lockdowns as people were stuck at home, but many of these Covid-19 “winners” have since struggled as life has returned to normal. 

Middlesex-based OnlyFans has seemingly managed to overcome this hurdle, with its results this year showing that it continues to grow as one of the UK’s largest private tech companies.

Keily Blair, chief executive of OnlyFans, who took over from Ami Gan in June, said: “These results reinforce OnlyFans’ position as the market-leading creator monetisation platform and reflect the impact OnlyFans continues to have on the creator economy.”

Founder Tim Stokely and his father Guy established the website in 2016 but sold it in 2018 to Leonid Radvinsky, an entrepreneur and owner of porn sites.

Blair added: “We remain committed to providing an effective and safe environment for creators over the age of 18 across all genres to monetise their content, own their own copyright and share their creativity with their fans.”