OnlyFans has paid a record dividend of $701m (£523m) to its Ukrainian-born owner Leonid Radvinsky, marking the latest in a series of bumper payouts as the adult-content platform prepares for a potential sale.
The payout comes after a surge in user spending helped OnlyFans’ parent company, Fenix International, deliver another year of rapid growth. The site, best known for its role in the creator economy and for hosting millions of influencers and adult stars, reported a 24 per cent rise in “fan” accounts to 377.5 million by the end of 2024. The number of content creators on the platform increased by 13 per cent to 4.6 million.
Last year, users spent a record $7.2bn on subscriptions, direct messages and other paid content. OnlyFans takes a 20 per cent commission, with the rest going directly to creators. The model has allowed the London-based company to deliver profits of $684m in 2024, while contributing £167m in corporation tax to the UK exchequer.
Radvinsky, 43, who bought OnlyFans in 2018 from its British founders Tim and Guy Stokely, has now received more than $1.8bn in dividends from the platform. The low-profile entrepreneur, who previously owned adult site MyFreeCams, is currently in talks to sell a majority stake in OnlyFans in a deal that could value the company at up to $8bn. Los Angeles-based investment firm Forest Road Company is reported to be the frontrunner.
The latest dividend follows a record $497m payout in 2024, alongside a further $204m approved since then.
While the platform continues to be most associated with explicit content, OnlyFans has expanded into new verticals in recent years. Its “safe for work” arm, OFTV, hosts reality shows featuring creators, while partnerships have been struck with sports stars and chefs in a bid to broaden its mainstream appeal.
Keily Blair, chief executive of OnlyFans, said: “In 2024 OnlyFans continued to grow its revenue and global user base. We expanded in new verticals, demonstrating the strength and potential of the platform across a wide range of genres. With a number of significant brand and individual partnerships, particularly in sport, OnlyFans continued to enhance its reputation as a foundational element of the wider creator economy.”
Radvinsky’s windfall underscores the extraordinary success of the platform, which has been one of Britain’s most profitable digital exports of the past decade. But it also comes at a pivotal moment, as potential buyers weigh the platform’s ability to retain its dominance amid intensifying competition in the booming creator economy.
Jamie Young
Jamie is Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting.
Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops.
When not reporting on the latest business developments, Jamie is passionate about mentoring up-and-coming journalists and entrepreneurs to inspire the next generation of business leaders.