OnlyFans owner paid $701m in dividends as platform readies for potential sale | Technology sector

The proprietor of OnlyFans was paid $701m (£523m) in dividends final 12 months because the subscription service finest recognized for providing grownup content material positions itself for a possible multibillion-dollar sale.The cost to Leonid Radvinsky, the Ukrainian-American entrepreneur behind the streaming platform, provides to the greater than $1bn in dividends he has already acquired from the enterprise as he earnings from connecting porn stars and celebrities extra instantly with their audiences.OnlyFans accounts present it paid $497m in dividends to its guardian, Fenix Worldwide, which is owned by Radvinsky, in 2024, up from $472m in its 2023 monetary 12 months. The enterprise paid an additional $204m to its proprietor in 5 tranches over the course of December to April.The UK-based firm reported income of $1.4bn in its 2024 monetary 12 months, up 9% in contrast with the 12 months earlier than, the accounts filed at Firms Home on Friday present. Pre-tax revenue rose 4% to $683.6m.It comes after studies in Might that Fenix had held talks to promote the enterprise for $8bn to a consortium of traders led by the Forest Highway Firm, a US funding agency.Extra individuals than ever are utilizing the platform, with the full variety of creator accounts – which cut up their proceeds 80:20 with the enterprise – up by 13% to 4.6m. The overall variety of fan accounts grew by 24% to 377.5m.General, OnlyFans took in $7.2bn from its subscribers in 2024, up from $6.6bn the earlier 12 months.The corporate stated “important development and profitability” had been pushed by a rise in platform customers and better earnings for present creators.The platform’s chief government, Keily Blair, a former privateness lawyer who joined the enterprise three years in the past, stated OnlyFans had “expanded in new verticals, demonstrating the power and potential of the platform throughout a variety of genres” within the 12 months.The platform was based in 2016 by the British entrepreneur Tim Stokely, then 33 years previous. It was bought to Radvinsky, a earlier proprietor of grownup web sites, for an undisclosed sum in 2018.skip previous publication promotionSign as much as Enterprise TodayGet set for the working day – we’ll level you to all of the enterprise information and evaluation you want each morningPrivacy Discover: Newsletters could comprise data about charities, on-line advertisements, and content material funded by exterior events. For extra info see our Privateness Coverage. We use Google reCaptcha to guard our web site and the Google Privateness Coverage and Phrases of Service apply.after publication promotionWhile its largest market is within the US, OnlyFans stays headquartered in London. The enterprise has tens of millions of creators on its platform, however employs simply 46 individuals instantly.Radvinsky has a low public profile, though his private web site states that he holds a level in economics from Northwestern College within the US and lives in Florida. He describes himself as a enterprise capital investor. Earlier than buying OnlyFans he owned an grownup webcam enterprise.OnlyFans additionally famous in its accounts that it continued to put money into its belief and security measures, amid tighter on-line security guidelines within the UK. Whereas the platform affords a wide range of completely different content material genres exterior pornography, together with sports activities and way of life, it has a strict 18+ age restrict.