What is OnlyFans
OnlyFans was launched in November 2016 as a platform where people can offer clips and photos to their subscribers for a monthly subscription fee. Tim Stockley founded the company with his older brother, Thomas, after taking out a £10,000 loan from his father, Guy Stockley, who said: “Tim, this will be the last of the money.”
Two years later, Odessa native Leonid Radvinsky, owner of MyFreeCams, bought 75% of Fenix International Limited, owner of OnlyFans, and targeted the service for erotica. The site continued to grow when singer Cardi B. and actress/singer Bella Thorne joined the platform.
After Beyoncé mentioned the site in her remix of Megan Thee Stallion’s song “Savage” in April 2020, visitor numbers skyrocketed. Already in 2022, the service set a new record: Bhad Bhabie nude pics brought the young rapper a million dollars in six hours.
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How much did OnlyFans earn
Radvinsky’s dividend payments were disclosed by the British company on Thursday as it showed a 7-fold increase in earnings. Payouts of $284 million in 2021 and $233 million in 2022 make Radvinsky one of the highest-paid owners of an Internet startup in the U.K. and highlight OnlyFans’ explosive post-pandemic growth.
OnlyFans allows content creators such as fitness instructors, musicians and erotic stars to sell video clips, messages and items directly to fans, who pay between $5 and $50 a month, of which the website retains 20%.
In its annual report, the company said pre-tax profit for the year through November 2021 rose from $61 million to $433 million and revenue rose from $358 million to $932 million.
In total, OnlyFans users spent nearly $4.8 billion on the platform in 2021 on porn, workout tips and cooking, most of which went directly to the creators. Stockley left the company at the end of 2021.
OnlyFans’ revenues exceed those of MindGeek, the adult entertainment empire behind sites like Pornhub and YouPorn. In recent years, OnlyFans has tried to build a more mainstream brand, arguing that more of its creators are selling non-sexual content. But it has yet to disclose figures about the breakdown of its revenue.
Last year, the company faced a wave of criticism and ridicule when it unexpectedly banned porn from the site before abandoning its decision. Stockley’s founder told the Financial Times at the time that banks insisted on the move, worried that they might be associated with pornography.