On August 25, 2026, OnlyFans parent Fenix International Ltd. published its annual report, and the headline number was not revenue — it was the payout. The London-based company disclosed dividends of $535 million for the year ending November 30, 2025, plus a further $174 million paid between that date and March 26, 2026: more than $700 million (roughly £513 million) routed to owner Leonid Radvinsky in the months before and immediately after his death from cancer on March 23 at age 43. The BBC reported Fenix booked $714 million in pre-tax profit for the year, a 5% increase over 2024. The New York Post, citing Wall Street Journal reporting on the same filings, put annual revenue at nearly $1.6 billion, up 10%, and net profit above $521 million.

Why It Matters

This is the clearest financial X-ray the adult creator economy has ever produced, and every number in it is a benchmark. A 20% take rate on $8 billion in gross creator transactions yields a 45% pre-tax margin at 47 employees — a profitability profile that most venture-backed creator platforms will never approach, and one that reframes "adult content platform" as an infrastructure business rather than a media business. For investors, the $3.15 billion Architect Capital mark now has audited financials behind it, implying roughly 2x revenue and 4.4x pre-tax profit — conservative multiples that reflect regulatory overhang, not operating weakness. For creators and policymakers, the juxtaposition is unavoidable: $700 million flowing to a single shareholder in the same reporting period that BBC investigations documented third-party "OnlyFans manager" agencies taking up to 70% of creator earnings under threat. The platform's defense — that it is not party to creators' outside contracts — is legally tidy and getting harder to sustain as the disclosed economics get louder.

The detail doing the most work in this filing is headcount. Fenix employed 47 people in the latest financial year. The BBC's chosen comparison is instructive: Marks and Spencer employs over 65,000 people and posted £671 million in profit last year. OnlyFans, with a staff that would fit in a mid-size conference room, cleared more. The company does work with roughly 1,500 outsourced content moderators, but the core business — payment rails, a subscription ledger, and a 20% take rate — is one of the most capital-efficient consumer internet operations in existence.

Scale figures accompanying the report show a platform that has stopped growing explosively and started compounding. OnlyFans reported 132 million paying subscriber accounts and 2.5 million active creators in 2025, down from the 377 million registered subscribers and 4.6 million posting creators cited in its 2024 filing — a shift from registration-count vanity metrics to active-account discipline. CEO Keily Blair used the occasion to state that OnlyFans has paid out over $30 billion to creators since its 2016 launch, that more than 5,000 creators have individually earned over $1 million, and that the company has paid over £600 million in UK corporation tax since inception.

Ownership has formally transferred. Companies House filings for Fenix International Limited (company number 10354575) record the cessation of Leonid Radvinsky as a person with significant control on March 20, 2026, and the notification of his widow, Yekaterina "Katie" Chudnovsky, as the new PSC on the same date. Chudnovsky, Blair, and James Stuart Sagan were all appointed directors on May 8, 2026. The Post reports that Architect Capital agreed in May to acquire a 16% stake valuing the company at $3.15 billion — a markdown from the $3.5 billion Radvinsky had been negotiating for a majority sale before his death, on the logic that a minority buyer pays less for less control.

Sources

Update — 2026-08-26

{Initial entry — story first created.}

Update — 2026-09-29

A second read of the accounts turns up a Netflix line. On September 28, 2026, This is Money published its own analysis of Fenix International's filings. It reports that the family trust controlling OnlyFans' parent took out about £530 million in dividends over the 16 months from November 2024 to March 2026: £400 million for 2025 and another £130 million in the run-up to March 2026. Control passed to Leonid Radvinsky's widow, Yekaterina "Katie" Chudnovsky, when he died that month. An OnlyFans spokeswoman told the outlet that the money was paid to Radvinsky, not Chudnovsky. The paper's figures for the year to November 2025 are revenue of £1.2 billion (up from £1.05 billion), pre-tax profit of £543 million (from £513 million), fan accounts up from 377 million to 437 million, and £1.5 billion paid to creators (from £1.3 billion).

The new item: according to This is Money, the accounts disclose for the first time "the licensing of OFTV content to Netflix UK," which the filing says "further extended the platform's reach." The outlet says it is unclear what content that refers to, and Afterglow has not found independent confirmation of the scope or terms. Treat it as a single-source disclosure for now.

What changed: if confirmed, OFTV, OnlyFans' safe-for-work video brand, licensing to a mainstream streamer is the clearest sign yet of the company's effort to build a brand beyond adult content. It lands while the company pursues a stake sale at a reported ~$3B valuation. For prospective buyers, SFW distribution deals are exactly the evidence that the brand can travel beyond payment-processor-sensitive adult revenue.

New Sources