The popular adult video sharing site OnlyFans has announced that it will be banning sexually explicit content from October 1.
The company said it is making the changes due to pressure from its banking and payment provider partners, although a BBC investigation found the company had been lenient towards creators who posted illegal content.
OnlyFans said in a statement, “To ensure the long-term sustainability of our platform and to continue hosting an inclusive community of creators and fans, we need to further develop our content guidelines.”
The company added that creators are still allowed to post nude photos as long as they use the the Acceptable Use Policy of the Site and that more information will be available in the coming days. “OnlyFans remains committed to the highest levels of security and content moderation of any social platform.”
However, according to the BBC, the site’s moderation does not meet that standard. It reports that a “compliance manual” instructed employees to warn users three times, even if the content being removed was illegal. The BBC also reports that more successful accounts, which had a larger subscriber base, were treated by a separate team and given additional warnings when they broke the site’s rules.
OnlyFans claims more than 2 million creators – who they claim have made more than $5 billion on its platform – and 130 million users. Last year, the site generated $2 billion in revenue (of which OnlyFans receive a 20 percent discount).
According to a report from Axios, the company is looking for investors with a valuation of more than $1 billion, but has struggled to attract investors, mainly due to the distribution of porn on the site (Axios notes that the company no pornography at all called his investor pitch deck).
Despite its ability to attract eyeballs and the safer environment it provides sex workers, online porn is a hard sell for investors. Recall that when Verizon was preparing to sell Tumblr to Automattic, the blog site banned adult content permanently in 2018, a very controversial move at the time.
OnlyFans released its first monthly transparency report for July on Thursday, along with the announcement about sexually explicit content, “as part of our commitment to security and transparency.”