Content creators on the platform, which is primarily adult content, have been paid enormous sums since its inception. London-based OnlyFans was founded by father and son, Guy and Tim Stokely, in 2016, before Ukrainian-American Leonid Radvinsky bought into the company in 2018.
The London-based company saw record profits in 2023. The number of users increased by 28% to 305 million last year, while the number of content creators rose by 29% to 4.12 million.
This explosive growth has provided major shareholder Leonid Radvinsky with dividends of over $1 billion in the past three years. Radvinsky is a Ukrainian-American owner of adult websites who bought OnlyFans from the founders, father and son Guy and Tim Stokely, in 2018.
Development and triumph of Onlyfans
OnlyFans grew quickly after Radvinsky took charge, particularly during the COVID-19 pandemic when a lot of content makers, including sex workers, used the platform to make money. By 2020 and 2021, OnlyFans had millions of users and artists worldwide, making it a household name.
By 2024, there will be 4.12 million creators on the network in addition to approximately 305 million users. Billions of dollars have been distributed to creators, and Leonid Radvinsky has reaped substantial financial rewards from the venture. According to the platform's business model, producers keep 80% of the money they make, with the company receiving the remaining 20%.
Disputes and efforts to move away from mature content
Due to its link with pornographic content, OnlyFans has experienced controversy despite its financial success. These have included worries about illegal content and the platform's moderation policies. OnlyFans declared in August 2021 that it will outlaw sexually explicit content in an effort to draw in more mainstream financiers and business associates. The decision was met with strong criticism from the creators, who contended that it would negatively impact the same people who had contributed to the platform's success. Only a few days later, OnlyFans overturned the decision due to the overwhelming criticism, allowing explicit content to remain on the platform.
The most popular page might surprise you
According to reports, Jem Wolfie has the most followers on OnlyFans as of 2024. She started her career as a fitness influencer on Instagram and is now well-known. Jem's content on OnlyFans is primarily focused on modelling, fitness, and non-explicit stuff. Her attraction to fitness fanatics has allowed her to maintain a sizable following. She dominates with a sizable subscriber base and reasonable membership costs.
Though Blac Chyna has since deleted her account, Bella Thorne and Blac Chyna have been among the highest-paid producers on the network, with each making millions of dollars. Other high earners are Tana Mongeau and Mia Khalifa, who both still generate sizable revenues from their big fan groups.