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Sex doesn't sell! OnlyFans to ban pornography October 1st after pressure from financial backers
#Onlyfans #Spicy #Corporate
OnlyFans, which has become the go-to place for creators to post explicit photos and videos, is banning pornography starting October 1.
The move, announced Thursday, is part of the UK-based company's changes 'to comply with the requests of our banking partners and payout providers,' an OnlyFans spokesperson confirmed to DailyMail.com in an email.
OnlyFans says creators can continue to share content with nudity 'as long as it is consistent with our Acceptable Use Policy,' which prohibits specific explicit content such as, torture, revenge porn and sex trafficking.
'In order to ensure the long-term sustainability of our platform, and the continue to host an inclusive community of creators and fans, we must evolve our content guidelines,' the spokesperson said.
OnlyFans has more than 130 million users, over 2 million creators who have earned over $5 billion since its inception in 2016, but is struggling to raise money from outside investors, according to an Axios report.
However, the company has not disclosed how much of its revenue is generated from pornography and adult content shared by creators.
The bump in the road comes from the company's reputation as an adult content website and has landed itself on the 'no fly zone' of many venture capital firms that have rules against investing in such apps and sites.
OnlyFans was launched four years ago by Timothy Stokely who is, in his own words, a 'British entrepreneur in the adult entertainment industry'.
It is a subscription-based site that allows creators to earn a living by sharing original videos on the platform.
Fans pay creators for access to their content via a monthly subscription, which can range from $4.99 to $49.99. OnlyFans takes a 20 percent cut of all payments.
The platform's slick PR team insists it was set up for all creators, 'from fitness, dancing, DJs to music', on the premise that if fans of influencers were really fans, they'd pay a subscription fee to see the content their idols produced.
However, much of OnlyFans' popularity stems from its adult content that has attracted millions and even celebrities.
It has also become a safe haven for sex workers who could generate an income without meeting a client in person.
However, the ban on pornography changes how these individuals conduct business and may even push them back to their 'unsafe underground conditions,' The National Center for Lesbian Rights shared in a tweet.
Thursday's announcement comes just a day after OnlyFans launched a new 'suitable for work' app that allows people to share nudity-free content about topics such as fitness, wellness and cooking.
Called OFTV, the free app has a library of more than 800 videos, including ones with its biggest stars such as Mia Khalifa, Bella Thorne and Holly Madison.
There are also clips from chefs, Pilates instructors and podcasters, as well as meditation videos and instructions for how to make tasty cocktails.
OFTV is available for free on all major devices, including iOS, Amazon Fire and Roku. It was launched in January but only now has the company started to promote it.
'OFTV provides a super convenient way for fans to watch content from favorite creators,' Stokely told Bloomberg.
'There's no adult content on OFTV. Because it's not being monetized and there's no direct impact on creators' earnings, we are able to be in the app store.'
OnlyFans is planning to use OFTV as a marketing tool to attract a different audience. It doesn't plan to make any profit from it, at least to begin with, and the app won't include advertising.
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OnlyFans says it will no longer ban porn in stunning U-turn after user backlash
1 year, 7 months ago
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