OnlyFans, a video sharing site best known for its creators' adult videos and photos. They will now prohibit any sexually explicit content beginning October 1. Bloomberg first reported that the company is changing due to pressure from its partners in the banking and payment industry.
OnlyFans stated in a statement sent to The Verge that we need to update our content guidelines to ensure long-term sustainability and continue hosting an inclusive community of creators.
The platform allows creators to still post nude images, provided they adhere to the acceptable use policy. The company said that more information will be made available over the next few days.
Similar OnlyFans launches SFW app for Android and iOS as it attempts to shake up adult image
OnlyFans claims that it has more than 2,000,000 creators, who have claimed to have earned more $5 billion through its platform. It also boasts 130 million users. The site made $2 billion in sales last year (of which OnlyFans takes a 20% cut).
According to Axios, the company is looking for investors at a valuation exceeding $1 billion. However, the company has struggled to attract investors mainly due to the proliferation of porn on the site. (Axios points out that the pitch deck did not mention pornography to investors).
Investors are not likely to buy online porn despite its popularity and safer environment for sex workers. Tumblr was banned permanently in 2018 by Automattic as Verizon prepared for the sale of Tumblr. This was a controversial decision at the time.
OnlyFans also announced the disclosure of sexually explicit content on Thursday. This is part of our commitment towards safety and transparency.
