OnlyFans Achieves $7.2 Billion in Processed Payments in 2024
In 2024, the UK-based subscription service OnlyFans processed an impressive $7.2 billion in payments. Owned by Fenix International Limited, the platform, which is known for its adult content, takes a 20% commission from its users' transactions.
Significant Growth in Revenue and User Base
Last year, OnlyFans saw a 9% increase in gross revenue, showcasing its financial growth. The company's net revenue ascended to $1.4 billion, up from $1.3 billion the previous year. This spike mirrors an increase in both creator and fan engagements; creator accounts grew by 13% to 4,634,000 and fan accounts rose by 24% to 377,456,000.
Expansion Beyond Adult Content
OnlyFans is strategically diversifying its offerings. The platform has recently ventured into sports, creating partnerships aimed at connecting athletes and sports organizations directly with fans. This move is part of a broader strategy to reach mainstream audiences and improve the platform's public image.
Company's Financial Health and Independence
According to Keily Blair, CEO of OnlyFans, the platform maintained its strong performance in 2024 without external financing, illustrating its financial independence. OnlyFans remains venture-free and has no accumulated debt, aligning with its strategy to sustain and expand its market reach autonomously.
Profit Distribution and Ownership
In the same fiscal year, OnlyFans distributed $701 million in dividends to shareholders. The platform's owner, Leonid Radvinsky, a Ukrainian-American businessman, has extracted roughly $1.8 billion from OnlyFans since 2021.
Potential Sale and Market Valuation
OnlyFans is rumored to be exploring a sale, which is potentially valued at $8 billion. This valuation emphasizes the platform’s substantial market appeal and business viability.
