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OnlyFans To Ban Explicit Content As They Face Banking Service Withdrawal Threat

OnlyFans is set to ban its most marketable aspect; Pornography. This, according to their statement, is to be put into action as from 1st Oct, 2021. The UK-based content subscription service stated it will no longer permit “explicit content” on the platform. This is a decision reached after several complaint and confrontations  with banking and payment services providers.

In order to ensure the long-term sustainability of the platform, and to continue to host an inclusive community of creators and fans, we must evolve our content guidelines.

OnlyFans further indicated it would allow selective material with nudity, only under the condition it adheres to its “Acceptable Use Policy.” It is yet to be seen, how this will be executed. In their current policy and terms of practice, the site prohibits publications promoting under age sex, abuse, harmful and illegal content.

We will be sharing more details in the coming days and we will actively support and guide our creators through this change in content guidelines

The site, since its establishment in 2016 by British businessman Tim Stokely, has see itself rise in popularity, thanks to the material posted by adult creators and performers. These are mostly “not for sale” arts by sex workers. Its numbers went crazy, especially after the Covid 19 outbreak that brought closure of most public spaces, clubs and brothels included.

Their subscription reads at over 30 million users, with over 2 million creators. Axios financial analysis reported a revenue of $375 million in 2020. Their expected number this year are a $1.2 billion revenue return and $2.5 billion come 2022. 300 hundred and more OnlyFans creators reportedly earn at least $1 million annually, with 16,000 others making at least $50,000 in the same time span.

Payment processors Visa an Mastercard last year withdrew from partnering with Pornhub after allegations of promoting underage sex, rape an revenge porn. The site denied the above, but this did not save the partnerships.

It would come to many as a surprise that despite having such numbers, OnlyFans is facing an investor crisis due to the content it chooses to allow, hence seemingly promote. There hasn’t been a visible move from the creators and consumers of its material, who most likely won’t be happy with the possible new development, but that is why we call it a developing story.

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