OnlyFans: Users Spent $5.55 Billion On The Platform In 2022 - Eastern Mirror
Saturday, June 22, 2024
Arts and Entertainment

OnlyFans: Users spent $5.55 billion on the platform in 2022

By Tekato Longkumer Updated: Aug 25, 2023 10:21 pm
OnlyFans Banner Image
Source: OnlyFans.

In a groundbreaking revelation, UK-based adult entertainment platform OnlyFans has announced staggering figures for its fiscal year ending November 30, 2022. According to a recent regulatory filing by its parent company Fenix International, the platform witnessed a remarkable surge in user spending, recording a total of $5.55 billion. This represents an impressive 16% increase compared to the previous year. Notably, creators on the platform reaped substantial benefits, pocketing an astonishing $4.5 billion of the total expenditure.

Variety reports that the platform’s financials also showcased a significant leap in profitability. OnlyFans secured a pre-tax net profit of $525 million for the fiscal year, marking a remarkable 21% growth on a year-on-year basis. This financial triumph underscores the platform’s standing as a powerhouse in the adult entertainment industry.

The chief beneficiary of this success, Leonid Radvinsky, the owner of OnlyFans, saw a substantial increase in his dividends. Radvinsky received an impressive $338 million in dividends for the fiscal year 2022, signifying a notable 19% rise from the $284 million received in the previous year. This financial windfall reflects the platform’s unwavering growth trajectory.

As per the regulatory filing, OnlyFans witnessed remarkable expansion in its creator and user base. The platform boasted 3.18 million registered creators as of November 2022, indicating a remarkable 47% surge. Concurrently, the number of users swelled by 27%, reaching a remarkable 238.8 million. This substantial increase in both creators and users further solidifies OnlyFans’ dominance in the adult entertainment sector.

The regulatory filing sheds light on OnlyFans’ core philosophy of prioritising its creators, ensuring a conducive and secure environment for their content creation. This commitment to being “creator first” and its emphasis on providing a safe social media space have laid a strong foundation for continued revenue growth, enhanced profitability, and heightened brand awareness in the years to come.

Moreover, the filing outlines the platform’s unique revenue-sharing model. OnlyFans creators retain an impressive 80% of the revenue generated by their accounts, while the platform claims the remaining 20%. This equitable distribution has undoubtedly contributed to the platform’s sustained success.

A closer look at the platform’s revenue breakdown reveals that OnlyFans’ net revenue for the fiscal year 2022 stood at a substantial $1.09 billion. The majority of this revenue, approximately 67%, hailed from the United States. Europe and the UK contributed 15% of the revenue, while the remaining 18% originated from the rest of the world. These figures underscore the platform’s global appeal and its ability to attract diverse audiences.

In a strategic move, OnlyFans witnessed a leadership change in July. Keily Blair, who previously held the position of Chief Strategy and Operations Officer, was appointed as the CEO, succeeding the platform’s former CEO Amrapali “Ami” Gan, who had held the position since December 2021. This change in leadership positions OnlyFans for further growth and innovation.

Established in 2016, OnlyFans revolutionised the adult entertainment industry by introducing a platform that allows paid subscribers to access exclusive content such as private photos, videos, and posts from adult models, celebrities, and social media personalities. The platform’s exceptional fiscal performance in 2022 underscores its ongoing influence and dominance in the industry.

By Tekato Longkumer Updated: Aug 25, 2023 10:21:55 pm
Website Design and Website Development by TIS