OnlyFans reported $7.22 billion in subscriber payments (gross site volume) for fiscal year 2024, representing a 9% increase year-over-year, according to the company’s annual report. The subscription-based content platform generated net revenue of $1.41 billion, up 8% from the previous year, with pre-tax profits reaching $684 million, a 4% increase.

The latest results indicate a deceleration in OnlyFans’ financial growth compared to previous years. The platform experienced 118% revenue growth in 2021 during the COVID pandemic, followed by increases of 16% and 19% in 2022 and 2023, respectively.

The platform’s user metrics show significantly faster growth than its financial results. Creator accounts increased 13% to 4.63 million, while fan accounts surged 24% to 377.5 million during fiscal 2024. OnlyFans maintains an 80/20 revenue split with creators, paying out $5.8 billion to content producers last year, a 9% increase.

“In 2024 OnlyFans continued to grow its revenue and global user base,” CEO Keily Blair said in a statement. “We expanded in new verticals, demonstrating the strength and potential of the platform across a wide range of genres.”

Dividends and Ownership Structure

Leonid Radvinsky, the 43-year-old owner of OnlyFans, received $497 million in dividends for fiscal 2024, up from $472 million the previous year. Additional financial filings reveal Radvinsky collected another $204 million in five installments between December and April, bringing his total dividend payout to $701 million for the period.

Since 2021, Radvinsky has earned nearly $1.8 billion in dividends from the company. Fenix International Ltd., OnlyFans’ parent company, maintains a lean operation with just 46 direct employees, relying heavily on third-party contractors to run the platform.

Potential Sale Discussions

Radvinsky has recently engaged in talks to sell OnlyFans, seeking a valuation of approximately $8 billion. Forest Road Company, a Los Angeles-based investment firm with interests in media and entertainment, is among the parties reported to be in discussions to acquire the platform.

The UK-based platform, founded in 2016 by British entrepreneur Tim Stokely and acquired by Radvinsky in 2018, remains headquartered in London, even as the United States remains its largest market.

Platform Development and Risk Factors

OnlyFans continues to invest in expanding beyond adult content through initiatives like OFTV, a safe-for-work free streaming service with original content. The company notes ongoing investment in trust and safety measures amid tightening online safety regulations in the UK.

In its annual report, Fenix International identified “lawsuits and liabilities” as a key risk factor, noting that the company “is a target for opportunistic litigation claims, particularly class actions in the USA.” The company stated it will “vigorously defend them when appropriate.”

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