Adult entertainers' platform OnlyFans witnesses boom; owner nets $500mn profit

OnlyFans owner received $500mn in the last two years as the platform has reached new heights. Dividends to Leo Radvinsky, who is a web entrepreneur and Ukrainian-American, were disclosed on Thursday as he unveiled a seven-fold increase in income. While the success of OnlyFans might be credited to the pandemic, Radvinsky still got payments of $233 this year and $284 last year, making him one of the highest-paid web start-up owners in the UK.
CutsOnlyFans takes a 20% cut from the $5 to $50 payments the fans make. The website allows content creators to share video clips, articles and messages. The corporate said in its annual report that the income before tax in 12 months until November 2021 increased from $61mn to $433mn. Simultaneously, the revenue jumped from #358mn to $932mn.
OnlyFans customers practically spent around $4.8 billion on the website in 2021. Fans spent the money on cooking, exercise, etc. Most of the money goes to the creators. Radvinsky made money in this business and live video websites before OnlyFans in 2018. His father, Guy, and another founder, Tim, left the OnlyFans company earlier.



Why OnlyFans?
OnlyFans became huge because it allowed people with huge social media followings to monetise their content without promotions or paid ads. It was a breakthrough for adult entertainers, who found it challenging to get viewership before this.

OnlyFans is bigger than MindGeek in terms of income. MindGeek is the owner of some websites in the adult entertainment industry. OnlyFans has been trying to promote its website in a new way lately. It is trying to emphasise less on the adult entertainment. However, fans mocked it for banning the said material on the website. It later removed this ban.