Headquartered in London with just fifty employees, OnlyFans takes twenty percent of its creators’ earnings from paid subscriptions. It gained massive traction during the COVID-19 pandemic, when both demand and supply of adult content soared as entertainers and sex workers turned to online platforms. The business model offers direct relationships between creators and fans, no middlemen, and no physical risk.
The company handed out five-point-three billion dollars to creators in 2023. That year, three hundred million users paid six-point-six billion dollars across over four million creator channels. Celebrities like Iggy Azalea, Bhad Bhabie, Tana Mongeau, and Lily Allen have all made significant earnings, with Allen famously charging ten dollars per month for photos of her feet. Snoop Dogg reportedly turned down a one-hundred-million-dollar offer to join.
Despite its success, OnlyFans has faced criticism for its adult content and business model. Critics say it still reinforces gendered power dynamics in the sex industry, and most of the platform’s revenue goes to a small elite of creators—ten percent of content creators account for seventy-three percent of profits.
Leonid Radvinsky, born in Odessa and raised in Chicago, bought seventy-five percent of the company in 2018 from founder Tim Stokely. A tech investor and entrepreneur since college, Radvinsky keeps a low profile but has donated millions to causes including Ukraine and AIPAC.
Despite the platform’s massive profits—nearly five hundred million dollars last year—selling it hasn’t been easy. A previous deal fell through due to backlash over a planned adult content ban. The site's nature has also scared off institutional investors, especially pension funds.
Still, OnlyFans remains highly attractive to buyers. It’s lean, avoids app store fees, and even pays lower credit card fees than most adult platforms. And unlike AI-generated content flooding the industry, OnlyFans thrives on real people and real connections.