Fenix International Ltd, the owner of the OnlyFans platform, is in talks to sell the company for approximately $8 billion to an investor group led by Forest Road Company, based in Los Angeles. Reuters was the first to report on these negotiations.
OnlyFans is primarily known as a platform that allows creators of adult content to earn revenue through subscriber payments, taking a 20% commission on their earnings. The platform gained rapid popularity during the COVID-19 pandemic, with revenue growing from $375 million in 2020 to $6.6 billion by November 2023. This rapid growth has attracted significant investor interest.
Negotiations have been ongoing since March, and a deal could be finalized within the next few weeks. Fenix International Ltd is also reportedly in discussions with other potential buyers. Sources indicate that an initial public offering (IPO) is also being considered. However, it remains unclear whether a final decision on the sale has been made.
The company’s sole owner, Ukrainian-American Leonid Radvinsky, acquired OnlyFans in 2018 and has earned at least $1 billion in dividends over the past three years.
At the same time, the platform has faced ethical and legal concerns. Reuters investigations revealed complaints in U.S. law enforcement and court records since 2019 regarding the presence of child sexual abuse material and non-consensual pornography on the site. There have also been reports of cases involving human trafficking. These issues have made OnlyFans a risky investment for many major financial institutions and investors.
Forest Road Company is an investment firm specializing in media, renewable energy, and digital assets. In 2024, it expanded its advisory services by acquiring a majority stake in ACF Investment Bank.
The decision about OnlyFans’ future ownership will be significant for the company’s strategy and its reputation in the public eye.
