OnlyFans announced it will begin banning sexually explicit content in October. Although the platform wasn't designed for porn, it has become its most visible and popular use case. However, the pressure from banks partners and pay providers means that the company must stop producing adult content and instead focus on SFW material.
Bloomberg first reported the news. The company confirmed it in a statement.
OnlyFans will ban the posting of content that contains sexually explicit conduct starting October 20, 2021. We must update our content guidelines to ensure long-term sustainability and inclusion of creators and fans. As long as the content is in line with our Acceptable Use Policy, creators will still be permitted to post nudity-related content. These changes were made to meet the demands of our bank partners and pay providers. We will share more information in the coming days. In addition, we will actively support and guide creators through this content change.
TechCrunchs inquires regarding OnlyFans' definition of sexually explicit content and how this might impact the company's bottom line were not answered by OnlyFans.
OnlyFans has been the standard for independent creators of adult content. It gained popularity as the adult entertainment industry was disrupted by the pandemic. Many creators, both professional and aspiring have found it to be a valuable asset. They can directly monetize their fans through the platform without having to interact with predatory, established adult industry companies.
Online sex work is always risky. Platforms must be vigilant for illegal content, such as child sex abuse material and malicious content like revenge porn, and other threats to the internet like piracy.
However, companies might have difficulty scaling up at the organizational level due to the fear of banks and investors. Both tend to view the industry as a vice and avoid it in general, just like cannabis and sex-toy startups. A business model can be sunk by financial processors and financial backers.
OnlyFans, in this instance, stated openly that it has stopped producing adult content because of this kind of pressure. The company recently promoted its OFTV app (a SFW alternative site to OnlyFans), and there are many creators who don't produce explicit content. This will be a huge blow to both the sex industry and the company. The affected creators weren't notified in advance.
This will destroy a lot people's main source income, the foundation for their entire business. Tristan West, dreamboytristan, is a top creator and author of adult content on OnlyFans. I, along with many others, have had to put in a lot more work to protect our business, move our assets, and move our content to another platform. This is not the end of things, but it is a significant setback.
West pointed out that other platforms are also finding ways to monetize adult material, such as Twitter adding paid followers and sites like PornHub creating direct monetization opportunities. OnlyFans has all the tools and will be able to make this transition.
West stated that while I would like to see them accomplish what is needed, it's strange that they haven't come to us or spoken to us in any other way. You can offer a quick way to download all of your content on OnlyFans. That's your business. This is the minimum they can do to help creators.
It is unclear whether OnlyFans can survive the transition in any tangible form. It may be a poisonous decision to leave their most loyal and lucrative customers and creators. Others will not be able to rely upon a platform that fails to support them. Investors who were once cautious about the risks of investing in sex-related products may be more wary of paying for a sinking ship. The $1 billion valuation could be further away than ever.
Tech community members have a clear and immediate solution: operate OnlyFans, or similar platforms using cryptocurrency. Cryptocurrencies are generally not subject to these restrictions. While this may seem like a good way to move the platform forward, it could be too late for OnlyFans.
We have some time, West stated. OnlyFans was the most popular platform on this market, but they are not the only one. This is an opportunity to make a difference for online creators and sex workers.
This story is still in development and will be updated with additional information.
