What is the most successful social network since TikTok? Not Meta’s Threads, not Reddit, and likely not even Telegram with its billion users. Surprisingly, OnlyFans—a platform closely associated with adult content—appears to take that title. Recent disclosures reveal staggering economic figures that provoke broader questions about success in the digital age.
Founded in 2016, OnlyFans operates under Fenix International, a UK-registered company, which requires it to provide limited financial reporting. These reports illustrate a booming creative economy, with growth that outpaces most competitors and reaffirms the age-old notion: sex sells. Although the platform hosts creators from various fields, it quickly became associated with adult content, democratizing sex work by allowing creators to monetize intimate content.
In 2023, OnlyFans reported $1.3 billion in revenue—a 20% increase from the previous year. Pre-tax profits rose 25%, reaching $658 million. The number of creator accounts grew to over 4 million, while user accounts hit 305 million, both increasing nearly 30% year-over-year. According to the report, users spent more than $6.6 billion on the platform in 2023, marking a 19% jump. Unlike other platforms, OnlyFans returns 90% of revenue to its creators, keeping just 10%—a practice that has made the company profitable with only 42 full-time employees. The streamlined model allowed CEO and owner Leonid Radvinsky to extract $475 million in dividends last year alone, totaling $1.3 billion since he acquired the company from founder Tim Stokely. Forbes estimates Radvinsky’s net worth at $3.8 billion, a fortune he amassed in part from managing adult websites before purchasing OnlyFans.
Despite the profitability, income inequality on the platform is extreme. While average annual earnings per creator are around $1,300, high-profile stars like Cardi B and Belle Delphine can earn millions, exacerbating resentment among smaller creators. Additionally, a University of Northern Colorado study from January highlighted instances of human trafficking on the platform, revealing that traffickers were profiting by operating multiple accounts on behalf of victims. In one case, a trafficker managed 12 accounts across six countries, generating over $1.3 million annually.
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This controversy has deterred some investors and payment processors from associating with OnlyFans. However, the COVID-19 pandemic dramatically increased the platform’s popularity, doubling its revenue between 2020 and 2021. OnlyFans exemplifies a central paradox of today’s digital economy: balancing creative freedom and economic independence against pressing ethical concerns. While the platform’s resounding success underscores the profitability of intimacy for sale, its model raises questions about longevity and regulatory scrutiny. Can a business rooted in adult content survive under intensifying scrutiny, or will ethical concerns ultimately stymie its growth?
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