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OnlyFans reports record profit

Published 02/09/2022, 07:45
Updated 02/09/2022, 08:10
OnlyFans reports record profit

OnlyFans reports record profit

OnlyFans reported record profits as it paid out more than US$500mln (£433mln) to its owner in the last two years.

The British-based subscriber platform best known for pornography recorded revenues of US$4.8bn on the site last year, according to the Guardian.

Pre-tax profits soared 615% to US$432mln in the 12 months to September 2021, meaning the tech start-up is one of the most financially successful in Britain in recent years.

The site’s main attraction is pornography, despite attempts from OnlyFans to claim that its platform allows celebrities and musicians to monetise their social media following.

There are 2.1mln registered creators selling their content and 188mln registered fans buying videos, images or personalised messages.

Creators keep 80% of their revenue, while 20% goes to OnlyFans to cover the costs of running the business and paying the owner, Ukrainian-American Leonid Radvinsky.

Founded in 2016 by an Essex family, the business started to go when it was sold to Radvinsky in 2018, who had experience running pornography sites.

Read more on Proactive Investors UK

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