The OnlyFans owner has earned $500 million over the past two years as his paid porn and celebrity content site rises in popularity.
Dividend payments to Leo Radvinsky, a Ukrainian-American pornographer and internet entrepreneur, were released by the UK-based company on Thursday. On the date, the company also revealed a seven-fold increase in profit.
Payouts of $284 million in 2021 and $233 million in 2022 make Radvinsky one of the highest paid internet startup owners in the UK and underscore the explosive growth of OnlyFans during the pandemic.
OnlyFans allows content creators such as fitness instructors, musicians and sex stars to sell videos, messages and articles directly to fans, who pay between $5 and $50 a month. of which the site takes a 20% share.
In its annual report, the company revealed that annual pre-tax earnings through November 2021 jumped from US$61 million (R$315 million) to US$433 million (R$2.24 billion), while revenues rose from US$ 358 million (R$ 1.85 billion) to US$ 932 million (R$ 4.8 billion).
In total, OnlyFans users spent nearly $4.8 billion in 2021 on the platform on pornography, fitness advice and cooking tips.
The shy Radvinsky made a fortune in online pornography and adult live sex sites before buying OnlyFans in 2018. Its founders, Tim Stokely, an Essex businessman, and his father Guy, a former City of London banker, left the company at the end of last year.
OnlyFans grew because it allowed people with large social media followings to monetize content without having to rely on sponsored ads or promotional offers, a breakthrough for adult content artists struggling to get viewers to pay for a product available for free. on many other sites.
OnlyFans’ profits far exceed those of MindGeek, the adult entertainment empire behind sites like Pornhub and YouPorn.
In recent years, OnlyFans has tried to create a more family-friendly brand, claiming that an increasing number of its creators sell non-sexual content. But it has not yet released figures on the division of its revenues.
The company faced a wave of criticism and derision last year when it unexpectedly banned pornography on the site — only to reverse the decision shortly afterwards.
Founder Stokely told the Financial Times at the time that the move was prompted by the banks, which, fearing to be associated with pornography, refused his payments to artists around the world.
Amrapali Gan, Stokely’s successor as chief executive of OnlyFans, said: “Our creative approach to building the world’s safest social media platform propelled OnlyFans to a record high in 2021.”
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