OnlyFans, the subscription-based website best known for its adult content, has paid out £1 billion to its Ukrainian-born owner, Leonid Radvinsky, since he acquired the company six years ago.
The British platform’s parent company, Fenix International, reported a record $472 million (£358 million) dividend last year, contributing to the substantial payouts.
Radvinsky, a 42-year-old Ukrainian-American entrepreneur listed as the sole shareholder of Fenix International, has received $1.3 billion in dividends since 2020, including $159 million in the first four months of this year. He purchased OnlyFans in 2018 from its founders, Guy and Tim Stokely, who launched the site in 2016.
The latest dividend comes as OnlyFans’ 300 million users spent a record $6.6 billion on the platform, which hosts a variety of content from fitness and lifestyle videos to explicit adult material. The company takes a 20% cut of subscription and purchase fees, with the remaining 80% going to creators.
OnlyFans’ revenue rose by 20% to $1.3 billion in the year ending November 30, while profits surged by 25% to $658 million. The number of creator accounts on the platform grew by 29% to 4.1 million.
Radvinsky, originally from Odesa and now believed to reside in the US, maintains a low public profile. His personal website describes him as an “accomplished company architect, angel investor, philanthropist, and open source software supporter.” Prior to OnlyFans, he founded another adult site, MyFreeCams.
OnlyFans CEO Keily Blair hailed the company’s achievements in 2023, stating: “OnlyFans had a strong year in 2023. We have cemented our place as a leading digital entertainment company and a UK tech success story. We have done this by continuing to provide opportunities for our diverse creator community to monetise their content and grow their global fan base.”
Blair added that the company remains committed to investing in the creator economy, emphasising its focus on providing a “safe and innovative digital media platform” for both creators and fans.
Jamie Young
Jamie is a seasoned business journalist and Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting.
Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops to stay at the forefront of emerging trends.
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