2023 TL;DR
- $6.63B gross fan payments (+19% YoY over $5.55B in 2022)
- 4.1M creator accounts (+32% over 3.1M in 2022)
- 305.07M cumulative fan accounts (+28% over 238.85M)
- 9.9% pre-tax margin — the highest in the platform's history (compressed to 9.5% in FY2024)
- Year of "everything working" — high growth + high margin + high creator scaling
Headline figures from FY2023
| Metric | FY2023 | vs FY2022 |
|---|---|---|
| Gross fan payments | $6.63B | +19% |
| Creator payouts (80%) | $5.30B | +19% |
| Platform net revenue (20%) | $1.31B | +18% |
| Pre-tax profit | $658M | +25% |
| Pre-tax margin (on gross) | 9.92% | +45bp |
| Creator accounts (year-end) | 4.1M | +32% |
| Fan accounts (cumulative) | 305.07M | +28% |
2023 in context
FY2023 was OnlyFans's peak-margin year. Revenue grew 19% (faster than the 16% in 2022 and the 9% that followed in 2024). Profit grew 25% — outpacing revenue growth, expanding the margin to 9.92%. The platform's compliance-cost structure hadn't yet absorbed the full impact of UK OSA, EU DSA, and US state-level age-verification laws.
It's the year that, in retrospect, marks the end of OnlyFans's pure scaling era. From FY2024 onwards, regulatory and processing-compliance costs started outpacing revenue scaling.
2023 vs 2022 — what changed
Compared to FY2022, the 2023 picture shows acceleration on every metric: revenue accelerated from +16% YoY to +19%. Creator base grew faster (+32% vs +48% — note 2022 was a creator-side surge year, so 2023's +32% on a much larger base is comparable absolute volume). Margin expanded by 45bp.
2023 vs 2024 — the inflection
| Metric | FY2023 | FY2024 | Change |
|---|---|---|---|
| Gross revenue | $6.63B | $7.22B | +9% |
| Pre-tax profit | $658M | $684M | +4% |
| Margin | 9.9% | 9.5% | −45bp |
| Creator accounts | 4.1M | 4.63M | +13% |
FY2024 was the first year since 2020 where margin compressed instead of expanded. That's the FY2023 → FY2024 transition that compliance-cost analysts watch closely.
Sources
- [FENIX-2023] Fenix International Ltd — UK Companies House FY2023 audited filing.
- [FENIX-PRIOR] Fenix International Ltd — Adjacent fiscal year filings.