OnlyFans has submitted its annual accounts for 2023. It's huge
OnlyFans has amassed, well, quite a number of fans. Founded in 2016, the subscription-based online video platform started during the early pandemic. And unlike lockdown relics like the animal crossing craze or whipped coffee, the organization still has wings.
In fact, websites known for hosting pornography or adult content are having a great year. Sex sells, it seems. More people are flocking to the platform, with user accounts growing 28% in a year to 305,000 million fans — according to a 2023 annual revenue report posted by OnlyFans' parent company, Fenix International.
And manufacturers are taking note, too, as their base grew 29% to 4.1 million accounts. In fact, the creator economy has boomed recently, and some OnlyFans breakout stars at the top are able to turn a side hustle into a million-dollar living.
“People don't understand the scale of the opportunity. I mean, really: you can create your own world,” said Bryce Adams, an Only Fan creator who has employees and operates his operations on the 10-acre property. The Washington Post In 2023. “This is our business. This is our life.” Admittedly, Adams is an exceptional story given his enormous popularity. Broken down across millions of accounts, the average annual payout is actually more in the ballpark of $1,300 per creator, notes Mashable.
Gross site volume, or the amount paid by fans to creators, increased from $5.5 to $1 billion to a record-breaking $6.6 billion. That's a 19% increase in a single year, notes Variety. Only Fans takes a 20% slice of the creators' profits.
Revenue also hit a record high in 2023, rising $217 million to $1.3 billion a year. When looking at just cash, OnlyFans is still swimming in cash assets of $678,000.
A healthy portion of those earnings goes to the owner Leonid RadvinskyWhich was paid more than $472 million in dividends in 2023. After buying the company in 2018, Radvinsky earned more than $1 billion every three years Bloomberg.
During the streak, OnlyFans acknowledges some risks on the road ahead. Some of the reasons cited include media interest and “real or perceived security breaches.” The platform notes that cybersecurity concerns are “a top priority.” And being in the spotlight can be fun, but also stressful. With public and media interest in OnlyFans peaking, the company vows to “continue to develop its public and government relations strategy to dispel misconceptions” as stoked by the coverage.
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