OnlyFans earnings: Users spent over $5.6 billion in 2022 | Tech News

OnlyFans earnings: Users spent over $5.6 billion in 2022

OnlyFans user spend report revealed revenue of $5.6 Billion for the subscription platform. Know more about the report here.

By: HT TECH
| Updated on: Aug 25 2023, 15:30 IST
Users spent $5.6 Billion in 2022 on OnlyFans.
Users spent $5.6 Billion in 2022 on OnlyFans. (Bloomberg)

OnlyFans experienced a massive hike in their subscription revenue. Over the years, the platform has grown drastically with adult content creators as well as the increase in app users. Recently, Keily Blair who was the chief strategy and operations officer at the company has now been appointed as the CEO, replacing Amrapali Gan. The change may impact the company's future plans and app policies. So far, the platform is generating massive revenue. Check out its earning reports.

OnlyFans revenue

OnlyFans' UK-based parent company, Fenix International released its financial report which shows that the company is making more profits than expected through its subscription model. The report released was for the fiscal year which ended on November 30, 2022. The subscription version shows that users have spent over $5.55 billion to access the content that is made available by adult content creators. This also revealed that the company has made 16% more revenue as compared to the previous year.

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According to Variety reports, the adult content platform generated an overall profit of $525 million. Leonid Radvinsky, the owner of OnlyFans, reaped $338 million in dividends for the 2022 fiscal year which is a massive amount. Not only the owners but the creators also benefited from the profits as their revenue increased by 47%. Now the registered creators on the platform have increased to 3.18 million with 238.8 million users in the same year.

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The report said, “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.”

Since the pandemic, the platform has attracted various users and it also gave creators a means to earn money during the tough economic times. However, with the popularity of the platform, the overall revenue is experiencing a spike. With its subscription model, it has given creators to earn more through various means such as paid direct messages.

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First Published Date: 25 Aug, 14:36 IST
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