Dividend of a mammoth $701 million was distributed by OnlyFans, making the Ukrainian-American owner of the platform Leonid Radvinsky even wealthier, with profit increases being unprecedented.
According to The Guardian, the online platform OnlyFans may be preparing for a potential sale with a valuation of up to $8 billion. Specifically, the revenue of the UK-based company reached $1.4 billion for the fiscal year 2024, which boosted profits by 9% higher compared to the previous year, as announced by the company according to accounts filed on Friday.
OnlyFans: growth and profitability
In particular, the subscription platform known for “adults-only” content reported “significant growth and profitability” for the period ending November 30, 2024, thanks to increased user numbers and higher earnings from existing creators. Revenue increased to $1.4 billion from $1.3 billion, with pre-tax profits reaching $684 million from $658 million in 2023. Dividends paid to Radvinsky reached $497 million in 2024, up from $472 million the previous year, while an additional $204 million was paid in various installments after year-end. As of November 30, 2024, the company had liquidity of $808 million and directly employed just 46 people.
CEO Keily Blair told the Financial Times and also promised further investments in trust and safety tools, ahead of stricter regulations for adult content in the United Kingdom and Europe.
