Last year was evidently a good year for adult content, because OnlyFans users spent almost $5.6 billion on the subscription-based platform.
It's very good news for the creators, who kept 80 percent of what they earned, though maybe not so good for the user's wallets.
Still, you have to support people who put in the work, and that's exactly what people on OnlyFans have been doing ever since the platform launched in 2016.
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Ever since then more and more creators have been enticing users to sign up for their content, with the platform proving especially popular with creators making adult content due to its porn-friendly nature.
Today (24 August), a regulatory filing from parent company Fenix International revealed that OnlyFans saw $5.55 billion in total spending by users for the fiscal year ending 30 November, 2022.
The spending was an increase of 16 percent from the year prior, with the platform's creators taking home nearly $4.5 billion of what was spent due to the platform keeping 20 percent of the cut.
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Leonid Radvinsky, the owner of OnlyFans, was paid $338 million in dividends for the 2022 fiscal year, up 19 percent from the year prior, when he was paid $284 million.
In the same time frame, OnlyFans increased its number of users by 27 percent to 238.8 million, according to the filing. Meanwhile, its registered creators increased by a whopping 47 percent to a total of 3.18 million.
The total net revenue for the platform in the 2022 fiscal year was $1.09 billion, 67 percent of which was derived from the US, 15 percent from Europe and the UK, and 18 percent was from the rest of the world.
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Commenting on the future of OnlyFans, the filing stated: “The group anticipates that its commitment to being ‘creator first’ and providing the safest social media platform will provide a strong foundation to continue to drive revenue growth, profitability and brand awareness in the coming years."
The positive report from the company comes after OnlyFans announced controversial plans to ban sexually explicit content from the platform in August 2021.
After backlash from people who used the site to make a living, the company made a swift U-turn and announced that it would not be making such changes after all.
"Thank you to everyone for making your voices heard," the company wrote in response to the backlash.
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"We have secured assurances necessary to support our diverse creator community and have suspended the planned October 1 policy change.
"OnlyFans stands for inclusion and we will continue to provide a home for all creators."
Topics: US News, Money, Technology, OnlyFans
Emily Brown