The Blubber

The owner of the subscription platform OnlyFans, Leonid Radvinsky, received a $472 million (£359 million) dividend last year, bringing his total payouts from the company to over $1 billion since 2020.

Radvinsky, a 42-year-old Ukrainian-American entrepreneur, has collected nearly $1.3 billion from OnlyFans over the past four years. The payout follows a robust financial performance by the site, as outlined in the latest results for its parent company, Fenix International, released on Friday.

OnlyFans, known for its adult content, posted revenues of $1.3 billion for the year ending November 30, 2023—an increase of 20% from the previous year. Its pre-tax profit rose by 25% to $658 million. The platform saw the number of creator accounts grow to over 4 million and fan accounts reach 305 million, both up nearly 30%.

Keily Blair, CEO of OnlyFans, commented: “OnlyFans had a strong year in 2023. We have solidified our position as a leading digital entertainment company and a success story in UK tech. This is reflected in our growing creator and fan numbers, as well as our revenue increase.”

Creators on OnlyFans retain 80% of their subscription fees, with the remainder going to the company. Creators also earn from tips and pay-per-view content, with non-subscription revenue now being the platform’s largest revenue stream. Last year, users spent a record $6.6 billion on OnlyFans.

Founded in 2016 by British entrepreneur Tim Stokely, then 33, and his father Guy, a former banker, OnlyFans was sold to Radvinsky in 2018 for an undisclosed amount. The platform experienced significant revenue growth during the coronavirus pandemic, establishing itself as one of the UK’s most successful tech startups and contributing $149 million in corporation tax to the Treasury last year.