OnlyFans bans sexually explicit content from its platform
According to numerous consistent reports, the social media platform OnlyFans will start barring pornographic content from its website in October 2021. The London-based company, which grew immensely in the past few years, will reportedly try to position itself as a platform for fitness instructors, musicians and other celebrities and influencers who share more dignified content on OnlyFans.
Even though OnlyFans members will still be allowed to share nude pictures and videos under the new guidelines, it's a major change for the company which is currently in the process of raising money from investors. With 130 million users and a valuation of more than US$1 billion, the social media company's decision was supposedly also caused by pressure from banking and payment providers, which have processed a dazzling US$2 billion in sales for OnlyFans in 2020.
The new policy will be a major disappointment for a large number of content creators who used OnlyFans to generate their most notable stream of revenue. Even though its executives stated that the adjustment was necessary to ensure the long-term sustainability of their business, it remains to be seen if OnlyFans can absorb the loss of many creators and users who will probably switch to different platforms in order to keep sharing their explicit material.
Due to the backlash caused by this decision, the company officially announced that it has decided to scrap its plans regarding the aforementioned policy changes. Therefore, creators may continue to share explicit content on OnlyFans.
Bloomberg, Image: OnlyFans