OnlyFans rakes in almost $5 billion from users

The saying that sex sells has rung very true after OnlyFans recorded profits of almost $5 billion from its users last year.

The London-based internet content subscription service platforming adult performers was launched in 2016 by a family in Essex but has boomed in popularity in more recent times after the 2018 sale to the reclusive owner Leonid Radvinsky.

Over the last two years, the company has paid Radvinsky $500m as profits have surged in part thanks to his prior experience of running pornography sites.

In 2021, OnlyFans users spent $4.8bn on the site making 40-year-old Ukrainian-American owner Radvinsky a very rich man as the sole shareholder.

The site’s success means the British tech start-up is one of the most financially successful ventures the country has seen in recent times.

According to the company’s accounts, its pre-tax profits rose by 615 per cent to $432m in just one year between September 2020 and September 2021.

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The site operates by platforming adult performers who upload content for their subscribers to view. The creators keep 80 per cent of the profits while the remaining 20 per cent goes to OnlyFans.

The site has 2.1 million registered creators and a further 188 million registered fans. Fans can pay more money to buy exclusive content from performers and for the ability to send them messages.

OnlyFans’ chief executive Amrapali Gan said: “We are empowering creators to monetise their content and have real control over it. Our unwavering commitment to our creators has powered our success over the last 12 months.

“We will continue to invest in the creator economy by enhancing safety, developing original OFTV content, and continuing to grow our community of creators and fans.”

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