OnlyFans paid $701 million (£523 million) in dividends last year to owner Leonid Radvinsky, highlighting the platform’s profitability as it edges closer to a potential multibillion-dollar sale.
Financial records show OnlyFans distributed $497 million in dividends to parent company Fenix International, which Radvinsky wholly owns, in the 2024 fiscal year, up from $472 million in 2023. Radvinsky also received an additional $204 million in five payments between December and April. He has now received more than $1 billion in dividends from OnlyFans.
The company reported $1.4 billion in revenue for 2024, a 9% increase from the previous year, and pre-tax profits rose 4% to $683.6 million. OnlyFans generated $7.2 billion from subscribers in 2024, up from $6.6 billion the prior year.
Reports in May indicated that Fenix International is negotiating to sell OnlyFans for an estimated $8 billion to a consortium led by the US-based Forest Road Company.
User engagement continued to grow: creator accounts rose 13% to 4.6 million and fan accounts increased 24% to 377.5 million. OnlyFans maintains an 80:20 revenue split in favor of creators.
Chief Executive Keily Blair attributed the platform’s growth and profitability to rising user numbers and higher creator earnings. The company is also diversifying into content beyond its adult origins.
OnlyFans was founded in 2016 by Tim Stokely and acquired by Radvinsky in 2018. Headquartered in London, the company operates with a staff of 46 and its largest user base is in the United States. Radvinsky, a low-profile Ukrainian-American entrepreneur and venture investor with a background in economics, previously owned other adult entertainment businesses.
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