OnlyFans owner receives US$ 338 million in dividends – 08/25/2023 – Market

OnlyFans, the online platform used by sex workers, musicians and celebrities for subscription streaming services, paid the company’s owner, of Ukrainian origin, Leonid Radvinsky, US$ 338 million (R$ 1.65 billion) in dividends.

In accounts filed with Companies House, the UK’s corporate registry, OnlyFans said payments made through its platform rose to $5.6 billion in 2022 from $4.8 billion. billion (BRL 23.37 billion) in 2021.

Its UK-based parent company, Fenix ​​International, said in financial results for the year ended November 2022 that its revenues grew 17% to more than $1 billion.

Pre-tax earnings rose to US$525 million (R$2.6 billion), compared to US$432 million (R$2.1 billion) the previous year, according to the company, with US$338 million (R$ 1.65 billion) allocated to Radvinsky through dividends.

For the first time, more than half of revenues came from non-subscription-based services such as tips, on-demand paid content and private messaging.

The total number of “content creator” accounts grew to 3.1 million, up 47%, while fan accounts increased by more than a fifth to 238.8 million. The OnlyFans platform takes about a fifth of payments generated by its creators.

Online streaming sites have thrived during pandemic lockdown periods as people have been stuck at home. But many of these Covid-19 “winners” have been struggling since life returned to normal.

Middlesex-based OnlyFans has seemingly managed to overcome that hurdle, with this year’s results showing it continues to grow as one of the UK’s biggest private tech companies.

Keily Blair, CEO of OnlyFans, who took over from Ami Gan in June, says, “These results reinforce OnlyFans’ position as the premier monetization platform for market makers and reflect the continued impact OnlyFans has on the consumer economy. content creators”.

Founder Tim Stokely and his father Guy established the site in 2016, but sold it in 2018 to Leonid Radvinsky, an entrepreneur and porn site owner.

“We remain committed to providing an effective and safe environment for creators 18+ across all genres to monetize their content, own their own copyrights and share their creativity with their fans,” adds Blair.