The income of the owner of the OnlyFans platform amounted to $ 500 million in two years
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Leo Radvinsky, the owner of OnlyFans, an Internet service known as a site for porn content, has received a windfall of $ 500 million over the past two years thanks to the growing popularity of the platform. informs FT with reference to the company’s 2021 report.
The entrepreneur received a $284 million payout in 2021 and $233 million this year, making him one of the highest paid internet startup owners in the UK and showing the platform’s rise in popularity during the pandemic.
Radvinsky, now 40, bought about 75% of then-obscure OnlyFans in 2018. In 2020, the company generated $400 million in revenue, up 540% from 2019, with 80% of its revenue coming from customers in America. The number of content creators in the first year of the coronavirus pandemic rose to 1.6 million, including Cardi B, DJ Khaled, Fat Joe and Rebecca Minkoff, while the number of subscribers increased to 82 million.
In its annual report, the company said that pre-tax profit for the year to November 2021 increased from $61 million to $433 million, and revenue from $358 million to $932 million. In total, OnlyFans users spent nearly $4.8 billion on the platform. most of which went to content creators.
In terms of profits, OnlyFans has significantly surpassed MindGeek, which operates Pornhub and other adult sites. In recent years, the company has been trying to create a more mainstream brand by claiming that users are selling more than just sexual content. However, OnlyFans has not yet disclosed data on the distribution of its income, writes FT.
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