Brit company behind OnlyFans posts record profit as average model earnings slump

The British company behind OnlyFans made record profits of £386million last year.

But the average earnings of the site’s almost five million models fell to less than £3 a day, we can reveal. Parent company Fenix International Limited is owned by Ukraine-born Leonid Radvinsky, who earned £368million in dividends last year.

Mr Radvinsky earns more in 100 seconds than what the average OnlyFans “creator” grosses in a year. Some porn stars – such as Brit Lily Phillips, 24, whose notoriety exploded when she slept with 100 men in a day for a stunt last year – boast huge paycheques from the site. But most earn pennies.

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Fenix International’s annual accounts show that last year the site generated £4.9bn in payments from 4.1m creator accounts. Last year that rose to £5.4bn from 4.6m creators. But the average amount earned by each OnlyFans model fell from £1,193 in 2023 to £1,154 last year.

These earnings – barely £3 a day – are before OnyFans charges its 20% commission fees. Last year, these fees totalled more than £1bn. The best paid director of Fenix International earned £7.2m last year, more than double 2023.

It is not known whether this is Mr Radvinsky, 43, a US citizen who lives in Florida, or British co- director Lee Taylor, 37. Profits rose 7% to £386m for the year. The latest accounts were published after Mr Radvinsky transferred all of his one million shares into a trust called the LR Fenix Trust.

It is not known where it is located, but offshore trusts are typically used to cut tax or for secrecy reasons. Prof Reuven Avi-Yonah, a tax specialist at the University of Michigan, said it could save hundreds of millions.

He said: “The trust could be liable for income tax on any dividends instead of a shareholder in the US and there could also be an estate tax benefit.”

Mike Lewis, director of the investigative think-tank TaxWatch said: “Trusts are the biggest blind spot in knowing who owns a UK company. The beneficiaries and the settlors who put assets into the trust, can remain secret.”

OnlyFans did not respond to a request for comment.