OnlyFans, a site known for making headlines about its not-safe-for-work content, is hoping the numbers from a recent U.K. financial filing prove to critics it is not just a niche platform. OnlyFans reported the number of creators on its site increased 29% from 2022 to 2023, reaching 4.12 million. The number of users also went up 28% to 305 million.
The London-based company posted a profit of $485.5 million in 2023, up 20%. Revenue also increased 20% year-over-year, reaching $1.31 billion dollars.
OnlyFans operates by users having to pay a one-time fee or recurring subscription to watch its creators’ content. Then OnlyFans takes a 20% cut from those creators.
In 2023, gross payments made through OnlyFans reached $6.63 billion. That meant creators earned a total payout of about $5.32 billion.
But the biggest winner of all was Felix Radvinsky, the sole owner of OnlyFans’ holding company, Fenix International Limited. The Ukrainian-born 42-year-old U.S. citizen bought a majority stake in the site in 2018 from OnlyFans’ creators, father-and-son team Guy and Tim Stokely.
In 2023, Radvinsky, who now resides in Florida, received $472 million in dividends, an increase of 40% from $338 million in 2022. Over the past three years, Radvinsky made $1 billion as the man behind OnlyFans.
In its filing, Fenix International issued a statement.
“OnlyFans’ mission is to empower content creators to own their full potential by building the safest social media platform and providing unparalleled opportunities to our user community,” the statement said. “[It] continues to garner significant media attention due to its novel business model, inclusive content policy and the success of many creators. [It] will continue to develop its public and government relations strategy to address misconceptions regarding the group as reported in the media.”
In addition to the OnlyFans site, the company said it is also continuing to invest in its streaming platform OFTV. OnlyFans said the platform, unlike the original, features only safe-for-work content.
