While Netflix was one of the major beneficiaries of the ongoing global pandemic, it was not the only one. OnlyFans, a platform that allows creators to charge and get paid for exclusive content, saw an explosion in creators as well as normal paying users. Creators now stand at over half a million and the company is now valued at over US$2.4 billion. Last year the company’s creators made US$2 billion in revenue of which OnlyFans were entitled to a 20% cut.
Often OnlyFans, just like Clubhouse , is used as an auxiliary social site by content creators and social media moguls who have a presence elsewhere. For example, YouTubers and Instagram influencers use it to make additional money. They do this by offering exclusive content to paying “fans” or followers. More often than not this content is often of an adult nature.
This has led to many controversies for OnlyFans, with some investigations showing that OnlyFans had adult content featuring underage individuals. The company has been accused of failing to prevent underage users from signing up and selling explicit content of themselves on a number of occasions.
Pressure from banks and payment processors
On all these occasions OnlyFans sought to defend itself but it has never been able to shake its growing reputation as an adult site where creators go to sell explicit media of themselves. Now the company is facing pressure from the banks and payment processors it uses and it has been forced to make a massive u-turn.
Starting this October the company will no longer allow sexually explicit content to be published to its platforms.
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 remains committed to the highest levels of safety and content moderation of any social platformWhat OnlyFans had to say
The company is not completely banning adult content though. It says nudes will be allowed as long as they don’t violate the company’s now very extensive new usage policy and terms. It seems the company is trying to walk the tight-rope between not alienating its fans and payment processors.