Porn profits: OnlyFans owner raked in over R8.6bn in two years
OnlyFans owner Leonid Radvinsky has made bullions from the site. But he's not the only one, as well-known celebrities are raking in millions.
London-based social-media subscription service OnlyFans is making a killing from its content.
According to Bloomberg, the adult entertainment site paid its owner Leonid Radvinsky about $517 million (R9 billion) in dividends since the end of 2020. And Radvinsky is not the only one raking in large sums of money through OnlyFans, as celebrities Card B, Blac Chyna and others are also making a killing.
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ONLYFANS PAYS OWNER HANSOMELY
The publication reports that the Ukrainian-American businessman, who is said so have a background in adult entertainment, received dividends amounting to $284 million in 2021 and $233 million after November 2021.
Tis was largely due to the adult entertainment site’s huge increase in its user base last year, with two million content creators making almost $4 billion (R70 billion) in 2021. In addtion, the number of content viewers escalated by 128% year-on-year, while the number of content creators rose by 34%.
Founded in 2016, OnlyFans offers a portal for people to sell subscriptions for content directly to their followers, from which it takes a 20% cut.
In August last year, the platform announced it would ban sexually explicit content but after an outcry from creaters, the company reversed the decision in less than a week.
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TOP EARNING CELEBS ON THE SITE
Although well-known for being a pornagraphy site, OnlyFans also features non-adult content from celebrities such as rapper Cardi B, model Blac Chyna and DJ Khalid who share exclusive content for their paying fans.
As per Variety, model and TV personality Blac Chyna was the top-earning creator on OnlyFans, pulling in an estimated $20 million (R345 million) per month in 2021. In second sport was actor and singer Bella Thorne with an estimated $11 million (R190 million) per month, followed by rapper Cardi B with $9.34 milion (R161 million) per month.