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OnlyFans, an online platform used by sex workers, musicians and celebrities to subscribe to streaming services, has paid out $338 million in dividends to Ukrainian-born owner Leonid Radvinsky.
OnlyFans said in its accounts filed with Companies House, the U.K. company registry, that payments through its platform rose from $4.8 billion in 2021 to $5.6 billion in 2022.
In its financial results for the year ending November 2022, its UK-based parent company, Fenix International, said its revenue rose 17% to more than $1 billion. Profit before taxes rose to $525 million from $432 million, with $338 million distributed to Radvinsky through dividends, according to the company.
For the first time more than half of revenue comes from non-subscription services such as gratuities, on-demand premium content and private messaging.
The total number of “creator” accounts rose 47 percent to 3.1 million, while fan accounts rose by more than a fifth to 238.8 million. The OnlyFans platform takes about one-fifth of the payments its creators generate.
Online streaming sites have thrived during the pandemic lockdown as people were stuck at home, but many of the Covid-19 “winners” have struggled as life returned to normal.
Middlesex-based OnlyFans appears to have successfully overcome that hurdle, with its results this year showing its continued growth as one of the UK’s largest privately held tech companies.
OnlyFans CEO Keily Blair, who succeeded Ami Gan in June, said: “These results reinforce OnlyFans’ position as the market-leading creator monetization platform and reflect OnlyFans’ continued impact on the creator economy.”
Founders Tim Stokely and his father Guy started the site in 2016 but sold it in 2018 to entrepreneur and porn site owner Leonid La Leonid Radvinsky.
Blair added: “We remain committed to providing an effective and safe environment for all types of creators over 18 to monetize their content, own their rights and share their creativity with fans.”
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