New York, September 8: OnlyFans, the popular subscription-based platform known for its XXX content, has posted unprecedented financial results for its 2023 fiscal year. According to a regulatory filing by Fenix International, OnlyFan's parent company, the XXX website achieved a record net revenue of USD 1.31 billion, marking a 20% increase from the previous year. The platform also saw a substantial rise in pre-tax profits, which soared 25% to USD 658 million.

The revenue growth is attributed to a 19% increase in gross payments processed through the platform, which climbed from USD 5.55 billion in 2022 to USD 6.63 billion in 2023. Consequently, payouts to creators reached a total of USD 5.32 billion, averaging nearly USD 1,300 per creator and reflecting a 19% year-over-year increase, The Guardian reported. John Cena Joins OnlyFans and Shares Link on X; His Caption 'Like You’ve Never Seen Me Before' Will Leave You Intrigued!

OnlyFans Sees Increase in Number of Creators

OnlyFans experienced a 29% rise in the number of creators, bringing the total to 4.12 million. Additionally, the platform’s user base expanded by 28% to reach 305 million registered users. Despite this growth, the company maintained a relatively small core team with an average of 42 employees, supplemented by a larger number of contractors.

OnlyFans Owner Leonid Radvinsky Received Whopping Dividends

Leonid Radvinsky, the owner of OnlyFans and founder of the cam site MyFreeCams, received significant financial returns, with dividends totalling USD 472 million for the 2023 fiscal year, up 40% from USD 338 million in 2022. Victoria Thomas-Bowen: All About OnlyFans Adult Model Who Threw Milkshake at Nigel Farage.

Under the leadership of CEO Keily Blair, who was appointed last year, OnlyFans continues to position itself as a secure and controlled environment for adult content. The platform enforces a rigorous ID verification process for account creation and requires users to pay for access, ensuring that content is not freely available. Founded in 2016, OnlyFans has established itself as a major player in the subscription content industry. Creators retain 80% of all payments made through the platform.

(The above story first appeared on LatestLY on Sep 08, 2024 08:33 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).