Source: NurPhoto / Getty
OnlyFans proves the sky is the limit for creators announcing the company’s high revenue for 2023 and $6.6 Billion in creator payments.
As the economy spirals the creator platform OnlyFans keeps ascending to new heights year after year. In 2022 spending on the website reached over $5 Billion yet left questions would whether the company continue to expand. As more people turn to the site for extra income the answer is yes.
According to Complex, 2023 turned out to be another record-breaking year for the company. Onlyfans easily added another billion to its revenue with ease. Essentially the company is printing money without much effort hitting $6.6 Billion in revenue.
On the creator front, the company is still paying handsomely with creators getting $5.5 billion of that revenue.
“OnlyFans’ mission is to empower content creators to own their full potential by building the safest social media platform and providing unparalleled opportunities to our user community,” the company said in a statement. “The media content on OnlyFans.com can only be shared or accessed by registered users who are over 18 years old and who have successfully completed the Creator or Fan onboarding process.”
OnlyFans has paid its owner Leonid Radvinsky $472 million in dividends last fiscal year, bringing his takings from the site to more than $1 billion in three years.
Radvinsky made $338 million in 2022 and $284 million the year before that, per Bloomberg.
— unusual_whales (@unusual_whales) September 10, 2024
Once the COVID-19 pandemic began OnlyFans became the place for creators to offer spicy content and thirst traps that violate Instagram’s Terms of Service. The sky is the limit for potential growth and 2024 is looking like another blockbuster year.
With 80% of proceeds going to the creators, the formula will be hard to beat for any bold competitor that may arise.
You can take a deeper look at OnlyFan’s revenue breakdown below.
OnlyFans’ business is insanely lucrative…
📸4.12 million ‘creators’ posting content.
💵$6.63 billion in gross annual payments collected.
📈20% growth in net revenue to $1.31 billion…
🤑and $658 million in pre-tax profit.https://t.co/FbHkWsTI99 pic.twitter.com/SWhmiFlsoL
— Nik (@NikMilanovic) September 9, 2024
The post Mo’ Money: OnlyFans Reports Company High Revenue For 2023, Creators Bank $5 Billion In Payouts appeared first on Bossip.
