OnlyFans is attracting renewed attention amid reports the subscription platform could be valued near $8 billion as owner Leonid Radvinsky negotiates a possible sale to an investor group led by US-based Forest Road Co. The talks are reportedly non-exclusive, leaving room for other bidders and an open timeline for any deal.
A New York Post report says Radvinsky has discussed a narrower sale range of $1.46 billion to $2.42 billion, reflecting difficulty finding buyers willing to invest because of the platform’s strong association with adult content.
Founded in 2016 by Tim Stokely, OnlyFans has been owned by Radvinsky since 2018. The company operates under London-based Fenix International, where Radvinsky is the sole shareholder; he also founded webcam site MyFreeCams.
OnlyFans’ business model centers on direct subscriptions and creator-to-fan interactions rather than traditional advertising, which has driven rapid user and revenue growth in recent years.
The platform maintains identity verification and other safety measures for users, and a deliberately limited search function designed to reduce unwanted exposure for creators.
By the end of 2023 OnlyFans reported 4.12 million content creators and more than 300 million registered users. Gross revenue reached $6.63 billion, up 19% year-over-year, with net revenue of $1.31 billion, up 20%. Pre-tax profit was $658 million and creator payouts totaled $5.32 billion for the fiscal year.
OnlyFans faces regulatory and reputational challenges tied to adult content. Sweden recently banned the service in connection with legislation on purchasing custom sexual content, and the platform’s aborted 2021 announcement to ban adult content—later reversed after creator backlash—underscored its role as an income source for many users.
Investor caution over the adult-content association contrasts with OnlyFans’ financial performance and large user base. The outcome of current sale discussions is likely to influence the platform’s strategic direction, content policies and market positioning going forward.
As a prominent example of the direct monetization model, OnlyFans’ future ownership and policy choices could have broader implications for how adult content and subscription-based digital services are managed and regulated.
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