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Leo Radvinsky received a $472 million dividend from OnlyFans in 2023. Go to newsletter preferences Thanks for signing up! AdvertisementThe low-profile owner of OnlyFans got another handsome payout last year as its profits boomed. Leo Radvinsky, who bought the subscription site in 2018, received a dividend payment of $472 million in 2023, according to accounts published Friday by its UK-based parent company, Fenix International. This story is available exclusively to Business Insider subscribers.
Persons: Leo Radvinsky, OnlyFans, , Radvinsky Organizations: Service, Fenix, Business Locations: OnlyFans
A cofounder of OnlyFans, Tom Stokely, has joined an airline startup as a director, filings show. Now he's part of Global Airlines, which will operate commercial flights on Airbus A380s this year. Stokely joined British startup Global Airlines after keeping a low profile since he sold the subscription site. Stokely set up OnlyFans, which is known mostly for its adult content, in 2016 with his brother, Tim. AdvertisementThe former banker met Global Airlines founder James Asquith last year , The Telegraph reported.
Persons: Tom Stokely, Stokely's, , Stokely, Laurent, Perrier Champagne, Tim, Leo Radvinsky, James Asquith Organizations: Global Airlines, Airbus, Service, Fenix International, The Telegraph, British Airways, Virgin Locations: British, Ukrainian, American, Stokely, London, New York
The owner of OnlyFans, Leo Radvinsky, made $338 million from the subscription site last year. The parent company's annual report also shows OnlyFans' creator and user base rose in 2022. AdvertisementAdvertisementThe owner of OnlyFans was paid $338 million in 2022 as the subscription site continued to gain traction with both creators and users. His personal website shows he has a venture capital firm that offers company founders investments up to $1 million. OnlyFans was founded in the UK in 2016 by Tim Stokely before he sold the company Radvinsky two years later.
Persons: OnlyFans, Leo Radvinsky, Radvinsky, He's, Tim Stokely Organizations: Fenix International, Forbes Locations: OnlyFans, webcams
OnlyFans users spent $5.6 billion on the platform in 2022, up from $4.8 billion in 2021. The total number of creators also hit 3.2 million in 2022, up 47% from 2.2 million in 2021. Gross payments made through OnlyFans increased about 17%, from $4.8 billion in 2021 to $5.6 billion in 2022. This represents the amount of money that fans are paying OnlyFans creators for photos, videos, chats, and more. AdvertisementAdvertisementThe total number of OnlyFans creators and fans has also continued to grow:The number of total creators was 3.2 million in 2022, up 47% from 2.2 million in 2021.
Persons: OnlyFans, Bryce Adams, Fenix, Leo Radvinsky, Radvinsky, Keily Blair, Ami Gan Organizations: Morning, Fenix, Bloomberg Locations: OnlyFans
More than 3 million content creators are now signed up to subscription-based platform OnlyFans. CEO Ami Gan said it's identified Latin America and Australia as future growth markets. The company is now setting its sights on Latin America and Australia to further increase its numbers. "We're looking at growth for the business and Latin America is a huge part of that," Gan said. "We're seeing Latin America is a massive growth region for us and see that opportunity for creators to get exposure to a global audience."
OnlyFans lost a battle at Europe's highest court over how much sales tax it should pay. The court ruled it should pay value-added tax on all revenues, and not just its 20% commission. The court sided with the UK tax body and the decision will shape a final ruling by a UK tribunal. Fenix International will likely need to pay sales tax, known as VAT, on all the revenues generated by OnlyFans creators – not just its 20% commission, Reuters reported. The court agreed with HMRC, the UK's tax authority, which told Fenix in April 2020 to pay VAT on revenue it generated between 2017 and 2020.
OnlyFans is launching a shopping feature for its content creators to let users buy branded products. Creators can design and create "custom-branded products" through the Spring Store such as water bottles, stickers, puzzles and apparel. Spring will handle packaging, storage and shipping of products, OnlyFans' blog says. OnlyFans creators can also add products they've produced themselves to the Spring Store, according to the blog post. Last year it launched the streaming platform OnlyFans TV, or OFTV, where series or other videos can be viewed by subscribers.
Leonid Radvinsky bought OnlyFans, an adult content platform, in 2018 for an undisclosed sum. The subscription-based adult content platform was founded in the UK by Tim Stokely in 2016 before Radvinsky took control. OnlyFans is not his first foray into the world of adult content. It ran a number of websites in the early 2000s that marketed "hacked" and "illegal" passwords to porn sites, Forbes reported last year. Radvinsky's next venture came in 2002 when he set up MyFreeCams, a porn site that featured "models" who got naked and offered sexual performances on webcams.
BBC Newsnight reported that child abuse images found on other websites originated on OnlyFans. OnlyFans said the BBC had prevented it from investigating because it didn't hand over evidence. Amrapali Gan, CEO of OnlyFans, told the BBC: "We actively work with law enforcement. We're truly the safest and most inclusive social media platform." The investigator used by Newsnight believed the images were created in the past six months and had OnlyFans watermarks.
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