Yet the content subscription platform, created by London-based Startups.co.uk, has grown into one of the most profitable companies in the world. In addition, the recently extended fiscal year 2023—ending November 2023—showed strong revenues of $6.6 billion with profits of $485 million. The company has turned into a new creative and financial haven for sex workers and other diverse content creators, including musicians and comedians. Today, it finds itself in negotiations to sell for about $8 billion.
Launched in 2016, OnlyFans quickly rose to prominence in the world of adult content. Its main attraction is that it provides an easy mechanism for creators to earn money, right out the gate. The company’s operational and financial success is reflected in its striking revenue numbers, which have reached €5.82 billion. In the meantime, over those same 5 years, profits skyrocketed to €428 million.
Speculation about a possible sale took place as early as last March. According to reports, the US-based private investment firm Forest Road Company has expressed an interest in purchasing the platform. According to various reports, an agreement could be reached in just the next week or two.
OnlyFans’ owner first purchased the platform in 2018. Since then, they’ve walked away with more than $1 billion in dividends— more than $1 billion just in the last three years alone. Such a significant return is a testament to the platform’s profitability in spite of all worries about its branding and reputation on the market.
Although others only see it as the adult content company, there are some who sense the opportunity to rebrand it. An unnamed source noted, “You’re looking to find billionaires and trying to sell it as not an adult content company but just a platform like X that allows adult content.” This view is indicative of a wider strategy to bring OnlyFans to the table of investors seeking more traditional, sedate exchanges.
Another source emphasized the challenges of shifting public perception: “But I think most people right now view OnlyFans as an adult content company.” TikTokers’ second-fiddle sentiment underscores the tightrope the company must walk. Essentially, it doesn’t want to spook the new investors they’re courting while placating the original users who helped build the platform.
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