We don’t usually talk about stuff related to sites with sexually explicit content, except when Pornhub does something weird like launch its own VPN. We’re making another exception for the UK-based OnlyFans today, because of what seems like a major walking back on what the service is known for. Starting in October, the company said that sexually explicit content will no longer be allowed on its platform.
An OnlyFans spokesperson told CNET that starting 1 October, OnlyFans will only limit its not-safe-for-work content to just nudity. And the reason for the change is a financial one. Who would’ve guessed? The spokesperson continued by saying that the company must “evolve” its content guidelines “to ensure the long-term sustainability of the platform, and to continue to host an inclusive community of creators and fans”. The change comes at the request of the site’s banking partners and payout providers.
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Separately, Axios reports that the fact that OnlyFans is having problems securing investments from venture capitalists is because of its reputation for amateur porn. The report also says that any other company that has the growth of this company will face no problems “raising big money in a matter of minutes”. The report also includes data from a pitch deck stating that OnlyFans has a GMV of US$2.2 billion (~RM9.32 billion) in 2020.
Overall, it’s qiote the unexpected move from OnlyFans, considering its reputation, though it’s not entirely beyond comprehension. That being said, it’s likely that there will be some push back to this decision, though it remains to be seen if that will come from the content creators, subscribers, or both.
(Source: CNET, Axios. Image: Bloomberg)
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