OnlyFans’ pandemic boom isn’t slowing down — spending on the site has surged by almost a fifth

OnlyFans was founded in 2016 by Tim Stokely.

The pandemic boom might be over for many tech companies, but OnlyFans is still a money-making machine.

Its parent company, Fenix International, posted annual earnings on Friday for the fiscal year ending November 30, 2023. The company’s revenue grew by $217 million to $1.3 billion, up from $1.09 billion in 2022.

The filing shows that the total number of creator and fan accounts also surged by 29% and 28%, respectively, to 4.1 million creators and 305 million fans.

OnlyFans takes a 20% cut of creators’ earnings through its platform. Gross payments made through OnlyFans, representing how much fans pay creators for messages, photos, and videos, amounted to $6.6 billion, up by $1 billion from the prior year.

The group’s pretax profit jumped from $525 million to $658 million in 2023.

The subscription site popular with adult-content creators boomed during the pandemic, boosted by new creators and subscribers signing up during lockdown.

Company filings show that Leo Radvinsky, the owner of OnlyFans, was paid a dividend of $338 million in 2022 after earning more than $500 million from OnlyFans in the prior two years.

OnlyFans was founded in the UK in 2016 by the British entrepreneur Tim Stokely before he sold the company Radvinsky two years later for an undisclosed amount.

Keily Blair, the CEO of OnlyFans, said in a statement shared with B-17: “OnlyFans had a strong year in 2023. We have cemented our place as a leading digital entertainment company and a UK tech success story.”

Blair added that it helped its creator community “monetize their content and grow their global fan base” and that it will continue to invest in the creator economy.