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OnlyFans users spent more than $5 billion last year, as the number of creators surged 47%

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  • The OnlyFans business is still booming.
  • OnlyFans users spent $5.6 billion on the platform in 2022, up from $4.8 billion in 2021.
  • The total number of creators also hit 3.2 million in 2022, up 47% from 2.2 million in 2021.

The OnlyFans ecosystem is still growing and minting major profits, according to new financials released by its UK-based parent company, Fenix International.

In the filing, which reported the group’s financial results for its fiscal year that ended on November 30, 2022, the paywalled platform which is popular with adult creators saw gains across all its key metrics. 

Gross payments made through OnlyFans increased from $4.8 billion in 2021 to $5.6 billion in 2022. This represents the amount of money that fans are paying OnlyFans creators for photos, videos, chats, and more. The OnlyFans platform takes a 20% cut of that while the creators get the rest.

This increase pushed Fenix’s revenue up $158 million, from $932 million in 2021 to $1.09 billion in 2022. The group’s before-tax profit also increased, going from $433 million in 2021 to $525 million in 2022.

The total number of OnlyFans creators and fans has also continued to grow:

  • The number of total creators was 3.2 million in 2022, up 47% from 2.2 million in 2021.
  • The number of total fans was 238.8 million in 2022, up 27% from 188 million in 2021.

Since seeing a spike in interest during the early stages of the pandemic, OnlyFans has kept its momentum and become a lucrative way for many creators to earn money. But the growth in the amount of creators from 2021 to 2022 outpaced both the growth in revenue and new fans. This suggests that perhaps the OnlyFans market, though still growing, is becoming saturated.

The top creators can earn millions of dollars.

The OnlyFans creator Bryce Adams, for instance, makes $6.4 million per year, she told Insider earlier this year. 

The most popular ways that creators make money on OnlyFans include subscriptions, paid direct messaging, tips, and pay-per-view content. Some OnlyFans creators have even built businesses selling promo “shout-outs” to other influencers or coaching people on how to succeed on the platform.

Bloomberg previously reported that the owner of Fenix, Leo Radvinsky, had made more than $500 million from OnlyFans since 2020. Radvinsky took control of the parent company in 2018. 

OnlyFans recently switched up its CEO, with Keily Blair replacing Ami Gan in June.

Read the original article on Business Insider
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