OnlyFans paid its owner a record $701 million in dividends and is preparing for sale

The OnlyFans platform, which allows creators to monetize their content directly through subscriptions, paid its owner Leonid Radvinsky $701 million in dividends. This record payout became known from the reports of the London-based company Fenix International Ltd., which manages the service, amid rumors of a possible sale of the business for an estimated $8 billion. This is reported by Bloomberg, writes UNN.

DetailsAs of the end of 2024:

• transaction volume on the platform reached $7.2 billion (compared to $6.6 billion a year earlier);
• profit before tax – $684 million (+4% y/y);
• the number of creator accounts grew to 4.6 million (+13%);
• the number of subscriber accounts increased by 24%, to 377.5 million.

OnlyFans generates revenue through a 20% commission on all transactions – from videos and photos to private chats.

Leonid Radvinsky, a Ukrainian-American entrepreneur, became the owner of the platform in 2018, buying it from its founders Guy and Tim Stokely. He was born in Odesa, and as a child moved with his family to the United States. Currently, the businessman lives in Florida.

Since 2021, Radvinsky has received about $1.8 billion in dividends from OnlyFans:

• $284 million in 2021;
• $338 million in 2022;
• $472 million in 2023;
• $701 million in 2024.

The platform, which gained peak popularity during the coronavirus pandemic, has become one of the most profitable resources for creators in the fields of entertainment, fitness, cooking, and, above all, the adult industry. Despite criticism, OnlyFans is considered one of the key players in the digital subscription market, which may explain the interest of potential buyers.

RecallThe owner of OnlyFans is negotiating with Forest Road Company to sell the platform. The company wants to move away from pornographic content.