Owner of OnlyFans paid $631m as subscription numbers rise | EUROtoday

Leonid Radvinsky, the proprietor of OnlyFans, paid himself $631m (£480m) over a interval of virtually two years as site visitors on on-line platform continued to extend.

Fenix International, which owns the positioning utilized by intercourse staff, musicians and celebrities, mentioned its pre-tax earnings have been $658m within the yr to November 2023, in accordance just lately filed accounts.

Almost a million new content material creators and greater than 50 million new “fans” signed as much as the platform through the yr, a rise of 29%, the corporate mentioned.

The newest outcomes come as OnlyFans is being investigated over whether or not it’s doing sufficient to stop kids accessing pornography via its website.

Leonid Radvinsky, a Ukrainian-American proprietor of pornography websites, purchased the enterprise from its founders, Guy and Tim Stokely, in 2018.

The father and son workforce based the positioning in Essex two years earlier.

While it’s well-known for sexual content material, creators additionally give attention to a lot of topics, together with health, music and comedy. In 2023 it launched a pornography-free TV streaming service.

In its newest outcomes, the corporate mentioned its content material creators made $6.6bn in 2023, with OnlyFans taking a 20% payment from every creator’s earnings.

Mr Radvinsky’s payday included $472m of dividends as much as November 2023, and an additional $159m in following months.

It comes on prime of the $338m he paid himself in 2022, bringing the whole to greater than $1bn prior to now three years. Forbes Magazine now estimates his web value at $3.8bn.

The platform’s extraordinary revenue is generated with a workers of simply 41 folks, and one director, its accounts say.

Keily Blair, chief govt of OnlyFans mentioned 2023 had been a “strong year” for the corporate.

“We have done this by continuing to provide opportunities for our diverse creator community to monetise their content and grow their global fan base,” she mentioned.

The website is registered within the UK, with a head workplace in London, however Mr Radvinsky lives in Florida.

Regulator Ofcom mentioned in May that’s suspected it was is just not doing sufficient to cease these below the age of 18 accessing pornographic materials.

At the time, OnlyFans mentioned it had skilled what it known as “a coding configuration issue”, which had had affected some “age thresholds” on the positioning.

However, it mentioned these thresholds have been at all times set above 20.