It was less than a week ago that OnlyFans announces its ban on sexually explicit content. In a recent tweet, OnlyFans had announced that they are backtracking the decision after a furious backlash from its adult content creator community.
“Thank you to everyone for making your voices heard. We have secured assurances necessary to support our diverse creator community and have suspended the planned October 1 policy change.” OnlyFans tweeted.
OnlyFans added that they stand for inclusion and will continue to provide a home for all creators, while they proceed to issue an official statement to the creator community shortly.
Previously, OnlyFans had announced they will ban any content containing sexually explicit conduct because of a mounting pressure from banking partners and payment providers. This had then led to a furious backlash from the adult content creator community as they have depended on the platform to sell their content.
After the announcement, many of their creators had begun deleting content that violated the new policy, or had started moving their subscriber base to new platforms.
OnlyFans was founded back in 2016 and they have become a social media powerhouse thanks to their loose approach to overtly sexual material. On its last reporting period, OnlyFans had over 130 million users, 2 million content creations and a reported $150 million (≈RM629 million) in free cash flow.
Despite their efforts to rebrand itself as a platform for all types of creators recently, claiming their platform is being used by everyone from chefs to musicians, including celebrities like Cardi B and Bella Thorne, porn is still by far the most popular category on the site.
OnlyFans founder and CEO, Tim Stokely previously revealed that OnlyFans was forced to ban such content after an “unfair” treatment from banks.
JPMorgan, BNY Mellon and Britain’s Metro Bank were among those that were named as lenders that have made life difficult for OnlyFans and sex workers. However, all 3 banks had declined to comment when contacted by CNBC.
There were speculations where OnlyFans was struggling to find external investment due to concerns with its hosting of adult content but Stokely denied the case and said they “didn’t make this policy change to make it easier to find investors.”
In addition, they have denied that Mastercard may have been the reason behind the ban too. He added that OnlyFans was already “fully compliant” with Mastercard’s new rules and they had “no bearing” on its policy change.
Mastercard had been introducing tougher rules for adult merchants starting 1 October too.
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