How OnlyFans made its secretive owner a billionaire despite site being just 8-years-old

American-Ukrainian businessman Leonid Radvinsky has received £1 cardinal from the tract portion the mean yearly net for an OnlyFans 'creator' was conscionable £1,291 past year

OnlyFans is conscionable 8 years aged but has already made its secretive Florida proprietor a billionaire.

American-Ukrainian businessman Leonid Radvinsky bought the institution which owns the tract from its British founders for an undisclosed sum successful 2018. The pandemic lockdowns, catastrophic for immoderate business, was a boon for OnlyFans and its not-safe-for-office content. It points retired that not each the worldly connected the tract is sexually explicit but it is wide accepted that the site’s accelerated maturation is mostly down to user-generated pornography.

OnlyFans “creators” tin station videos and photos down a paywall, which “fans” oregon subscribers wage a monthly interest to access. Creators tin besides gain wealth from tips and from “pay-per-view” content. In 2019, OnlyFans facilitated £238m of specified payments. By 2023 that sum had soared 21-fold to £5.3bn. OnlyFans takes a 20% cut, banking much than £1bn successful 2023. After costs, much than fractional of this was profit.

Radvinsky is the main beneficiary, paying himself much than £1 cardinal successful dividends successful little than 5 years, according to the latest accounts of Fenix International, the institution helium owns and which owns OnlyFans. Last year, helium was getting much than £1m a time from his investment. He is not the lone idiosyncratic getting affluent astatine the company. In 2019, the mean net among 11 unit including the directors was £101,000. By 2023, 42 staff, including the 2 directors, were getting paid connected mean £482,000.

Some of the astir palmy creators are reportedly earning millions of pounds a year. But the company’s accounts amusement that the mean yearly net for an OnlyFans creator was £1,291, earlier fees and tax.

OnlyFans ain information suggests that the phenomenal maturation of the tract whitethorn person peaked. Approvals for caller “creator” accounts deed astir 400,000 a period successful aboriginal 2023, and are present down astir 55% to astir 180,000 a month. Last period saw the smallest fig of creator relationship approvals since OnlyFans started signaling these successful mid-2021. Yet the magnitude of contented continues to grow, with much than 300 cardinal idiosyncratic pieces of contented successful the past six months alone.

The tract is notoriously hard to monitor. Every creator relationship is hidden down its ain paywall, with subscription rates typically betwixt £5 and £30 a month. The company’s monthly “transparency reports” amusement that the fig of accounts deactivated for breaching tract rules doubled past year, from conscionable implicit 28,000 successful 2023 to astir 60,000 successful 2024. At the aforesaid time, the magnitude of pieces of contented taken down for the aforesaid crushed has astir halved, from 557,000 successful 2023 to 323,000 successful 2024. OnlyFans did not respond to a petition for remark astir this.