The owner of OnlyFans, the website that sex workers, musicians, celebrities, and others use, received a check for dividends of $338 million (£268.5 million).
According to its parent business, Flare International, annual profits increased by more than $500 million.
According to the platform, it now serves about 240 million “Fans” and more than three million artists.
Leonid Radvinsky, the sole shareholder of the UK-based Fenix, is thought to be worth more than $2 billion.
According to financial statements submitted to the UK’s Companies House, the company spent more than $5.5 billion on the OnlyFans platform in the year ending in November 2022. It increased from $4.8 billion in 2021.
The London-based company reported that pre-tax profits for the time period increased to $525 million from $432 million the year before.
On OnlyFans, the number of creators increased by 47% to nearly 3.2 million, while the number of users increased by 27% to over 239 million.
The business added that for the first time, non-subscription offerings like tipping and creator-created on-demand video accounted for more than half of its profits.
According to the company, 80% of payments received on the website go to creators, with the remaining 15% going to the business itself.
In the filing, Flare stated that “OnlyFans recorded sustained growth and profit.”
“This reflects both the platform growth, in terms of the number of content creators and fans, as well as growth in existing content creators’ earnings,” it continued.
During the coronavirus lockdowns, when people were confined to their homes, traffic to OnlyFans and other streaming websites increased dramatically.
However, as limitations were restored, several of those platforms saw their profits from the global epidemic era disappear.
Guy and Tim Stokely, a father and son duo, established OnlyFans in 2016.
In 2018, they sold the business to Mr. Radvinsky, a Ukrainian-American businessman and proprietor of a prostitution website.
According to the magazine Forbes, Mr. Radvinsky has an estimated net worth of $2.1 billion.
