Since he began working for OnlyFans in 2020, Leonid Radvinsky has earned more than $500 million (£448.4 million), and data indicates that its content providers made billions of dollars in 2018.
That’s a lot of money
Tim Stokely, a British businessman, launched OnlyFans in 2016, and it’s safe to say that it’s been a huge success.
More than two million content creators have used the site since it launched, bringing the total number of users to a staggering 220 million.
OnlyFans experienced a spike in users when the coronavirus epidemic hit and lockdowns were implemented, unlike many other businesses.
According to the BBC, in 2021, the number of subscribers increased by 128 percent, while the number of creators increased by 34 percent.
The website’s popularity doesn’t appear to be declining, and it generates revenue by deducting a 20 percent commission from all payments made to the authors of its content.
Businessman Radvinsky, an American of Ukrainian descent, acquired the company in 2020 and took over as CEO in December after Stokely resigned.
In a report obtained by the BBC, Radvinsky was given $284 million ($246 million) in dividends in 2021 and an additional $233 million ($201 million) since November.
In addition, Radvinsky is not the only one profiting from the popularity of the subscription-only website. According to the same report, OnlyFans content producers earned slightly under $4 billion (£3.47 billion) in 2021.
“We are empowering creators to monetize their material and have genuine control over it,” said chief executive Amrapali Gan to the BBC.
She added: “We will continue to invest in the creator economy by enhancing safety, developing original OFTV [the firm’s free streaming platform] content, and continuing to grow our community of creators and fans.”
And the website’s popularity, which is fueled by a 20 percent commission on all payments made to the site’s content creators, doesn’t appear to be declining.
After purchasing the business in 2020 and taking over as CEO in December of last year when Stokely resigned, Ukrainian-American businessman Radvinsky.
According to a study obtained by the BBC, Radvinsky received $284m (£246m) in dividends in 2021 and an additional $233m (£201m) since November.
Radvinsky isn’t the only one profiting from the popularity of the subscription-only platform, though. In 2021, OnlyFans content providers earned just under $4 billion (£3.47 billion), according to the same report.
The BBC quoted Amrapali Gan, the company’s chief executive, as saying: “We are empowering creators to monetize their content and have true control over it.”
The business expressed its gratitude to everyone for speaking out in a tweet.
“We have deferred the planned October 1 policy change as we have obtained the assurances required to support our diverse creator community.
“OnlyFans stands for inclusion, and we’ll keep giving all creators a place to call home.”
