The reclusive owner of OnlyFans rakes in more than $500 million from the adult website in less than 2 years, report says

Cardi B performs at the Wireless Festival in London in July.Joseph Okpako/Getty Images OnlyFans owner Leonid Radvinsky took dividends of $517 million in two years, Bloomberg reported. The adult content plaform’s viewers jumped by 128% and the number of creators rose by a third. Revenues soared from $358m to $932m […]

Cardi B performs at the Wireless Festival in London in July.

Cardi B performs at the Wireless Festival in London in July.Joseph Okpako/Getty Images

  • OnlyFans owner Leonid Radvinsky took dividends of $517 million in two years, Bloomberg reported.

  • The adult content plaform’s viewers jumped by 128% and the number of creators rose by a third.

  • Revenues soared from $358m to $932m last year, according to the annual report seen by Bloomberg.

The owner of OnlyFans has been paid more than $500 million since 2020, Bloomberg reported.

The Ukrainian-American businessman Leonid Radvinsky received dividends amounting to $284m in 2021 and $233m after November 2021, the company stated in its annual report, which was seen by Bloomberg.

The adult entertainment site enjoyed a boom in its user base last year, with two million content creators raking in almost $4bn in 2021, per the report. It also features non-adult content from celebrities such as rapper Cardi B and DJ Khalid for paying fans.

The number of content viewers jumped by 128% year-on-year, while the number of content creators rose by 34%.

The platform, which takes a 20% commission fee from creators, more than doubled its revenue from $358m in 2020 to $932m in 2021, Bloomberg reported.

Pre-tax profits also soared from $61m in 2020 to $433m in 2021 as users flocked to the platform during the pandemic.

“We are empowering creators to monetize their content and have real control over it,” Amrapali Gan, chief executive of OnlyFans, told the BBC.

Gan, who had been at the company since 2020, took over as CEO in December 2021 after Tim Stokely stepped down.

The London-based company was founded in 2016 by Stokely before he sold a 75% stake to Radvinsky, 40, two years later.

The Florida-based business figure keeps a low public profile but has run porn websites for more than two decades through his company Cybertania, the Daily Telegraph has reported.

In August last year the platform announced it would ban sexually explicit content but reversed the decision six days later following an outcry from creators.

The company laid off an unspecified number of employees last month to “reshape certain teams”, it told Insider in a statement.

OnlyFans did not immediately respond to Insider’s request for comment about the results.

Read the original article on Business Insider

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