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OnlyFans To Ban Sexually Explicit Content From October & We Don’t See The Point Anymore
Video sharing website OnlyFans, known for hosting adult photos and videos for its creators, will now prohibit sexually explicit content from October 1st. First reported by Bloomberg, the company says it is making these changes because of pressure from its payment provider and banking partners.
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“In order to ensure the long-term sustainability of our platform, and to continue to host an inclusive community of creators and fans, we must evolve our content guidelines,” OnlyFans said in a statement.
While content creators will still be able to post nude images, creators will now need to comply with the site’s acceptable use policy. The website will make additional information available soon and added, “OnlyFans remains committed to the highest levels of safety and content moderation of any social platform.”
Previously, OnlyFans claimed it had over 2 million creators who had earned more than $5 billion on its platform. Last year, the platform generated $2 billion in sales out of which the company got a 20% cut in revenue.
OnlyFans has been trying to seek investors at a valuation of more than $1 billion but has been facing trouble finding investors according to Axios. The company has not been able to get investors primarily due to the nature of adult content shared on its platform. It is also worth pointing out that OnlyFans did not mention pornography in its pitch to investors.
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OnlyFans saw heightened growth during the pandemic as content creators connected online with customers. During the lockdown, the platform was responsible for providing a livelihood to many creators who either lost their job or wanted a safer workplace for sex workers/porn stars.
This is not the first time a website has been forced to change its content policy due to a lack of investors. Verizon had to ban adult content on Tumblr in 2018 as the company was unable to attract investors at the time.
Apart from announcements regarding sexually explicit content, OnlyFans also published its first monthly transparency report for July, earlier this week.