Owning OnlyFans is quite profitable

Owning OnlyFans is quite profitable

OnlyFans owner Leo Radvinsky has earned more than $ 500 million in the last 18 months from the platform: $ 284 million in 2021 and $ 233 million in 2022. This was revealed by the same company, which last week presented its annual financial results for 2021, good to say the least. In 2021, OnlyFans' profits increased from $ 61 million in 2020 to 433 and total revenue increased from $ 358 million to 932. The 220 million users spent nearly $ 4.8 billion on content submitted by over 2 millions of content creators. Results that guaranteed Radvinsky such dividends as to make him one of the business leaders who have earned in the United Kingdom.

OnlyFans has blocked Russian creators The platform has declared a stop to payments to Russia, further isolating the country from the global network A successful business Founded in 2016, OnlyFans is a subscription platform where content creators they can sell their content directly to users for between $ 5 and $ 50 per month. The platform takes a commission of 20% of the amount that each user pays. The content on the platform ranges from cooking to fitness, but what OnlyFans is primarily known for is sexually explicit content. In fact, images and videos for adults represent most of the content on the portal.

It is a business model that has worked very well for both users and the company so far. Allowing content creators to monetize their content without having to rely on external sponsors was a big news in the sector. And it has proved to be a profitable model for the company as well. In 2021, OnlyFans' profits far exceeded the profits of MindGeek, which owns leading porn sites Pornhub and YouPorn.

OnlyFans backs off on the porn block The controversies Ukrainian-US entrepreneur Leo Radvinsky, 40, became the owner of the company in 2018. Known for having been active in the porn industry for years, Radvinsky is a character who tries to avoid the spotlight and publicity, but who has been able to exploit the wave of the pandemic to his advantage, even if neither he nor the platform has been free from controversy in recent years. In June 2021, Forbes revealed that in the 1990s - before internet pornography was widely available for free - Radvinsky ran a small empire of websites that provided access to porn sites, including those featuring content featuring minors. through stolen passwords.

In August 2021 OnlyFans announced its intention to ban sexually explicit content under pressure from creditor banks. The ban was then lifted, only after OnlyFans promised to apply "stricter controls" on content.