Source – The platform reported gross payments to creators totaling $6.63 billion—a 19% increase from the previous year—cementing its position as a dominant player in the creator economy.
The platform’s net revenue, which represents the amount retained by OnlyFans after compensating creators, rose to $1.31 billion, reflecting a 29% year-over-year increase.
The company’s business model allows creators to keep 80% of their earnings, with the platform retaining 20%, making it an attractive option for millions of global content creators, ranging from adult performers to fitness experts and musicians.
Under the leadership of CEO Keily Blair, OnlyFans also reported pre-tax profits of $658 million, a 25% growth from the previous year.
Owner Leonid Radvinsky, who acquired the platform in 2018, received $472 million in dividends, bringing his total earnings over the past three years to nearly $1 billion.
Since its inception in 2016, OnlyFans has seen exponential growth.
The platform added 305 million subscribers in 2023, a 28% year-over-year increase, with 66% of its revenue generated by U.S.-based users.
Despite its lean workforce of just 42 employees, the platform has achieved remarkable profitability.
While its financial success is evident, OnlyFans continues to face regulatory challenges, particularly over concerns related to preventing minors from accessing adult content. In response, the company has diversified its offerings with the launch of OFTV, a streaming service focused on non-adult content, available across major app stores.
Snapshot of OnlyFans’ 2023 Financial Results:
- Founder: Guy and Tim Stokely
- Acquisition: Purchased by Leonid Radvinsky in 2018
- Subscribers: 305 million in 2023, up 28%
- Creators: Over 4 million active creators
- Payout to Creators in 2023: $5.32 billion (up 19%)
- Gross Payments: $6.63 billion
- Platform Revenue: $1.31 billion
- Profit: $658 million pre-tax
- Revenue Share Model: 80% to creators, 20% retained by the platform
- Owner Dividends: $472 million in 2023
- Growth: 29% year-over-year revenue increase, driven by rising subscriber and creator numbers
- Usage Location: U.S.-based users generated 66% of the platform’s income
With its rapid growth and significant payouts to creators, OnlyFans has solidified itself as a leader in the creator economy.
Moving forward, the platform’s success may depend on its ability to diversify content offerings and navigate increasing regulatory scrutiny
