Leo Radvinsky, the discreet owner of the OnlyFans website, has managed to earn $500 million from the adult content subscription platform in the last two years. According to the British newspaper Telegraph, the Ukrainian-American businessman will have received 517 million dollars in dividends from the platform.
The OnlyFans website allows users to make a monthly subscription to receive specific content. The platform has long been associated with adult content and sex workers, but during the pandemic it has also been used by celebrities. Compared to other social media platforms, through OnlyFans it is possible to monetize large fan bases without having to resort to advertising content, for example.
Leo Radvinsky is described by the press as a veteran of the porn industry. In 2018 he bought the platform OnlyFans, created in the United Kingdom, which today has 2.2 million content creators.
According to accounts released this week, the company had a pre-tax profit of $433 million in the 12 months through November of last year. The accounts became known through documents submitted to the English organization Companies House.
By 2021, Radvinsky will have earned $284 million in dividends from OnlyFans. Between November and these dates of the year, the owner of the platform will have raised another 236 million dollars.
OnlyFans was created in 2016 by Tim Stokely and his father Guy Stokely, a former City of London banker. Subscriptions to the service range from $5 to $50 a month, and it’s up to the content creator to define the value. The service charges a 20% commission for each subscription.
According to the Financial Times, at this point OnlyFans’ profits will already exceed those of the MindGeek group, the company responsible for porn sites like Pornhub or YouPorn.
Source: Observadora
