Please wait..
Please wait..
Please wait..
Please wait..
Please wait..
Please wait..
Please wait..
Please wait..
Please wait..
Please wait..
Please wait..
Please wait..
Please wait..
Please wait..
Please wait..
Please wait..
Please wait..
Please wait..
Please wait..
Please wait..
Please wait..
Please wait..
Please wait..
Please wait..
Please wait..
Please wait..
Please wait..
Please wait..
Please wait..
Please wait..
Please wait..
Please wait..
Please wait..
Please wait..
Connect with us

Hi, what are you looking for?

Feed3

Private owner of OnlyFans receives $500m for pornography website

The private owner of OnlyFans receives $500m for the pornography website

Within 18 months, the secretive owner of the British adult subscription website OnlyFans has received more than half a billion dollars in dividends.

Private owner of OnlyFans receives $500m for pornography website

The London-based venture that Radvinsky acquired in 2018 has paid him $517m as a result of its acquisition, which he made as a 40-year-old Ukrainian-American living in Florida.

According to accounts filed with Companies House, OnlyFans, a platform used by 2.2 million video performers and best known for its pornographic content, reported pre-tax profits of $433m last year.

In the 1990s, Mr Radvinsky ran pornography websites through his company Cybertania, considered an adult industry veteran.

Mr Radvinsky received $284m in dividends from OnlyFans in 2021, up from $26m the previous year. A further $233 million has been returned to its owner since November, according to its accounts.

With OnlyFans, Tim Stokely, an Essex entrepreneur, allows adult performers to charge fans a monthly subscription and take a 20 percent commission. December marked the end of Mr Stokely’s tenure as chief executive.

Profits from the business have been enormous. By 2020, the company’s profits had increased sevenfold from $61m. Taxes paid by OnlyFans totaled $108 million, including $88 million in corporation tax in the UK and $1 million in digital tax.

As a result of the pandemic, the number of users increased to 187 million last year from 82 million the year before, according to the company’s accounts. There were 2.2 million creators last year, who received a total of $3.9 billion.

According to Lee Taylor, OnlyFans‘ chief financial officer, “Our pivotal and record-setting results throughout our business reflect the improvement in our business processes and growth in market share.”

Advertisement. Scroll to continue reading.

OnlyFans briefly banned “sexually explicit” content last year, but quickly reversed its position. Sex workers’ accounts were shut down as a result of payment providers blocking transactions on the site.

Despite its reputation for adult content, OnlyFans is trying to clean up its image. Among the celebrities on the site are DJ Khalid and Cardi B, who share posts exclusively with paying fans, as well as influencers such as chefs, fitness coaches, musicians and models.

Close
Close
Advertisement