Despite many companies experiencing a decline in business following pandemic booms, OnlyFans can’t relate and has proven to be a money-making machine long after the lockdown ended.
On Friday, Fenix International, the parent company to OnlyFans, shared its annual earnings for the fiscal year ending on November 30, 2023, and the numbers are impressive. Reports show that OnlyFans saw a 29% increase in users, with 4.12 million creators on the platform. Gross payments to creators rose by 19%, from $5.55 billion in 2022 to $6.63 billion this year. OnlyFans has always claimed to prioritize its creators by ensuring they are paid 80% of all payments made through the site.
This success also benefited the platform’s owner, Leo Radvinsky, who acquired OnlyFans from the company’s founder, Tim Stokely, in 2018. According to the platform’s filings, Radvinsky received a major payout of $338 million in 2022, adding to the $500 million he earned during the prior two years.
The app was founded in 2016 and saw a massive spike during the COVID-19 pandemic as many people tuned into the platform as either creators or supporters while the country was under lockdown. These individuals were seeking entertainment or trying to find a new source of income as many companies were shut down. While there were once concerns that its popularity and earning potential were dying out, these new numbers prove that OnlyFans is still quite lucrative.
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