Adult entertainment platform OnlyFans reported record revenue profits for its 2023 fiscal year, as the platform’s revenue increased by 29 percent to 4.12 million. Perhaps more notable is the amount of gross payments made through the platform.
This figure rose by 19 percent by the end of the year, which jumped from $5.5 billion in 2022 to $6.63 billion last year, according to regulators in the UK These figures are payments made to content creators on OnlyFans, and after taxes, refunds, and deferred income have been applied.
This means that OnlyFans creators earned payouts of $5.32 billion last year, which averages almost $1,300 per creator, representing a year-over-year increase of 19 percent.
In other words, OnlyFans models are making more money than NBA stars, according to OnlyFans model, Corinna Kopf.
The platform’s net revenue increased by 20 percent in 2023
OnlyFans is outperforming every single other online platform. The platform’s net revenue was $1.31 billion while the company’s pre-tax profit jumped by 25 percent to $658 million. Almost 66 percent of the revenue is generated in the United States.
The platform’s owner, Leonid Radvinsky, who is also the owner of MyFreeCams, a pornography cam site, received $472 million in dividends for 2023, which was a whopping 40 percent from the $338 million the site filed for 2022.
The platform has a massive subscriber base. In 2023, subscribers for the platform rose by 28 percent and reached the 305 million milestone. OnlyFans reported 42 employees on average per month during the 2023 fiscal year.
These record figures have all been produced by newly named CEO, Keily Blair, and this is the first time the platform has produced these types of figures.
Since its launch in 2016, OnlyFans has been the industry standard for adult entertainment
OnlyFans argues that it is the safest adult platform on the internet because before anyone can create an account, the platform requires an extensive ID verification process, and the content is, of course, meant to be paid.
The company also argues it is the industry standard because of the way creators on the site are remunerated. OnlyFans creators earn 80 percent of all payments made to them, meaning the platform only takes 20 percent as a fee.
In the filing of these record revenues, Only Fans stated, “OnlyFans’ mission is to empower content creators to own their full potential by building the safest social media platform and providing unparalleled opportunities to our user community.”
A company spokesperson added that the media available on the website can only be shared or accessed by registered, paying users who are over 18 years old and have completed either the creator or user onboarding.
The company has invested in a new streaming platform that will not be adult-oriented, called OFTV, which is available to download on all app stores.
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