OnlyFans Eyes Stunning $8 Billion Sale as Investor Buzz Reaches Fever Pitch.
OnlyFans, the adult content subscription platform known for disrupting the creator economy, is reportedly in talks for a potential sale that could value the company at up to $8 billion, according to Variety. Owner Leonid Radvinsky, who took control of the company in 2018, is negotiating with several potential buyers, including a group led by Forest Road Co., a Los Angeles-based investment firm with interests in media, entertainment, and green energy.
Sources confirm the discussions are ongoing, not bound by exclusivity, and currently have no firm deadline. Despite Radvinsky considering a lower valuation between $1.46 billion and $2.42 billion, the company is fielding serious interest—though its association with adult content remains a sticking point for some investors.
Forest Road Co., founded in 2017, has a track record of media investments. It has previously backed a Formula E racing team and, earlier this year, acquired a majority stake in ACF Investment Bank to expand its financial advisory services. Notably, the firm was part of a 2022 SPAC deal that aimed to take OnlyFans public—a plan that ultimately did not materialize. Currently, sources indicate that an IPO is off the table.
Conversations about the sale reportedly began in March 2024, with multiple potential buyers expressing interest. A Reuters report suggests a deal could emerge within weeks, although no final agreement has been reached.
OnlyFans was launched in 2016 and saw explosive growth during the COVID-19 pandemic, providing a lifeline to adult content creators shut out by traditional platforms. Under Radvinsky’s ownership, the company has become a financial juggernaut. He is the sole shareholder of Fenix International, the parent company, and has paid himself more than $1 billion in dividends over the past three years, according to public filings in the U.K.
By the end of 2023, OnlyFans reported:
-
300+ million registered users
-
4.12 million content creators
-
$6.63 billion in gross revenue (up 19%)
-
$1.31 billion in net revenue (up 20%)
-
$658 million in pre-tax profit (up 25%)
-
$5.32 billion paid to creators in 2023
-
Two-thirds of revenue came from the U.S.
The platform has attracted major celebrities like Cardi B, Bella Thorne, Iggy Azalea, and Bhad Bhabie, all of whom have generated millions from their presence. Bella Thorne made headlines in 2020 by earning over $1 million in 24 hours, while Iggy Azalea reportedly earned close to $10 million.
In August 2021, OnlyFans faced backlash after announcing it would ban adult content, citing pressure from financial partners. After swift condemnation from its creator base, the company reversed course within a week, citing “assurances necessary to support our diverse creator community.” Since then, it has taken steps to diversify its offerings, including the 2021 launch of OFTV, a separate, safe-for-work video platform featuring original entertainment.
OnlyFans has emerged as a powerful force in the digital creator economy, redefining how content is monetized and distributed. Despite controversy and industry resistance, its financial performance and global user base make it an undeniable success story. The potential $8 billion sale speaks not only to its profitability but also to the broader shift toward direct-to-consumer digital platforms.
With smart investment and continued innovation, OnlyFans has the potential to evolve beyond its adult content roots, expanding into a broader entertainment ecosystem while still empowering millions of creators. The next chapter could mark a bold, transformative leap forward in digital media.
