The OnlyFans business continues to be a very profitable one. It’s proven to be pandemic proof, inflation resistant, and it has continued to grow even with an increase in competition.
Who knew that the subscription-based platform’s ability to make money was so strong? Leonid Radvinsky did. He’s the owner of OnlyFans and bought it back in 2018 from its founders, Guy and Tim Stokely.
It turns out, people aren’t through with attempting to cash in on the platform. At the same time, there hasn’t been a drop-off in those looking to part ways with their hard-earned money for an intimate look at their favorite star in their 50s or the ICU nurses out there who decided to make a career change.
Traffic in 2023 was up, as were purchases, subscriptions, content creators and subscribers, according to recently filed accounts, the BBC reports.
When business is that good, the owner gets a taste of the action. Radvinsky has gotten a decent taste over the last, almost two years.
Business is still booming on OnlyFans and the owner of the company is cashing in big time
He was reportedly paid $472m of dividends up to November 2023. Then another $159m in the months that followed. That’s on top of the $338m he paid himself back in 2022.
Some quick math puts that at almost $1 billion he’s made in the last three years. Forbes now estimates Radvinsky’s net worth to be $3.8bn. Not a bad return on investment.
The OnlyFans money train isn’t slowing down and, unless something catastrophic takes place, it’s not coming off the tracks anytime soon. It has a wide variety of content, which people like to point out, but we all know why people are there.
They’re there to help fund the dreams of housewives looking for some extra cash and those of Instagram models tired of fighting against censorship. Subscribers want more than anything else to support small businesses.
Nothing accomplishes that quite like finding out that you can help maintain the lifestyle of a former Baywatch star now that Hollywood has decided to toss them aside.
What a success story. It’s gone from a simple concept to a billion-dollar business that brings people together. One that anyone from any walk of life can participate in.
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