OnlyFans has paid out a record $701 million in dividends to its owner Leonid Radvinsky, underscoring the profitability of the UK-based subscription platform as it explores a potential multibillion-dollar sale, according to the Financial Times.
Radvinsky, a Ukrainian-American entrepreneur who acquired the site in 2018, has already reaped nearly $500 million in dividends from the platform’s 2024 performance, with a further $204 million distributed since the end of the financial year, filings at Companies House show. The business ended the year with a cash balance of $808 million, despite employing just 46 people directly.
The windfall highlights the lucrative model that OnlyFans has built over the past decade by enabling creators — including sex workers, celebrities, and influencers — to sell content directly to fans. The platform’s creator base grew 13 per cent in 2024 to 4.6 million, while fan accounts rose nearly 25 per cent to 377.5 million worldwide.
Subscriber payments to OnlyFans climbed to $7.2 billion in 2024, up from $6.6 billion a year earlier. Of that, $5.8 billion was paid out to creators, who retain 80 per cent of revenue generated. Group revenues reached $1.4 billion, while pre-tax profit rose to $684 million.
Talks are now under way for a sale that could value the business at as much as $7 billion. Radvinsky is in negotiations to sell a majority stake to a consortium led by Los Angeles-based investment firm The Forest Road Company, with British billionaires David and Simon Reuben also in discussions to participate, alongside other financial backers.
OnlyFans, originally founded in 2016 by British entrepreneur Tim Stokely and his father, has diversified beyond adult entertainment in recent years. It launched an on-demand streaming service, OFTV, for non-adult content such as fitness, cooking, music, and comedy.
Chief executive Keily Blair told the Financial Times that the platform had expanded into “new verticals” and pledged further investment in trust and safety measures, as regulators in the UK and Europe tighten rules around adult content. OnlyFans currently uses tools such as facial recognition to verify users and enforce its over-18 policy.
Despite facing mounting scrutiny, the company remains overwhelmingly popular, with the U.S. as its largest market. As Blair put it: “The strength and potential of the platform across a wide range of genres” continues to fuel both growth and profitability.
