OnlyFans owner Leonid Radvinsky receives $472 million dividend after platform’s revenue surge

Leonid Radvinsky, the billionaire owner of OnlyFans, has received a $472 million dividend from the platform’s parent company, Fenix International, following a significant rise in revenue and profits. According to annual accounts, the company’s revenue grew to $1.3 billion in 2023, up from $1 billion in 2022, while profits increased by 20% to $485.4 million. This marks an increase from the previous year when Radvinsky earned a $338 million dividend.

The company’s transactions grew 18.9% to $6.6 billion in 2023, with OnlyFans claiming that 80% of every dollar spent on the platform goes to its content creators. Non-subscription revenues, including one-time purchases of pictures or videos, surged to $765 million, up from $567.6 million in 2022. Subscription revenue grew modestly, rising from $522.1 million in 2022 to $540.8 million in 2023.

The total number of OnlyFans subscribers increased by 28%, reaching 305 million, while the number of content creators on the platform grew by 29% to 4.1 million. The U.S. accounted for the majority of the platform’s revenue, contributing $863 million, while Europe and other regions added $443.2 million.

Radvinsky, a U.S. citizen born in Ukraine, has earned $1 billion in dividends from the platform over the last three years. Forbes estimates his wealth at $3.8 billion. OnlyFans, initially known for hosting adult content, has since launched OFTV, a platform for non-explicit content like fitness and cooking videos.