In a powerful testament to the lucrative nature of the creator economy, the owner of OnlyFans, Ukrainian-American entrepreneur Leonid Radvinsky, was paid a staggering £522 million in dividends last year. This massive payout comes as the UK-based platform, best known for its adult content, reported a significant surge in both its user base and its revenues, a clear sign of its continued market dominance and financial success.
According to freshly filed Companies House accounts, OnlyFans saw its revenues jump by 9% to £1.05 billion ($1.41 billion) in 2024. The platform, which is preparing for a potential multibillion-pound sale, is a financial powerhouse that makes the majority of its money in the US but is headquartered and pays taxes in the UK. The sheer scale of its operations is evident in its earnings: the company took in a remarkable £5.4 billion ($7.2 billion) from subscribers over the year, a vast majority of which—£4.3 billion ($5.8 billion)—was paid back to creators.
The platform's growth is not just limited to its financial performance. The accounts revealed a significant increase in its user base. The number of creator accounts grew by 13% to 4.6 million, highlighting how more people are using the platform as a viable way to earn a living. The number of fans paying to access content also saw a huge jump, increasing by 24% to a staggering 377.5 million globally. This explosive growth in both supply and demand is a key indicator of the platform's enduring appeal and its crucial role in the wider creator economy.
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OnlyFans' strong financial performance, which included a 4% rise in pre-tax profits to £509.5 million ($683.6 million), led to the massive cash windfall for its owner. The accounts showed that the company paid out £370 million ($497 million) in dividends to Mr. Radvinsky’s Fenix International over the year, with an additional £152 million ($204 million) paid out between December and April.
As OnlyFans Chief Executive Keily Blair noted, the company's growth is not just about its core offerings. She stated that the platform has been expanding into "new verticals," including significant partnerships in the world of sports, which is helping to enhance its reputation as a "foundational element" of the creator economy.
