OnlyFans, the online creator platform known for its adult content, will ban sexually explicit photos and videos on its website starting in October, the company said Thursday. The announcement was first reported by Bloomberg.
OnlyFans brands itself as a content platform primarily for photographers, musicians and fitness instructors. However, as its popularity soars—especially during the pandemic—the website has increasingly become synonymous with porn, often used by sex workers to sell fans sexually explicit videos and photos.
The policy changes were spurred by pressure from OnlyFans’ financial partners and the company’s need to raise fresh capital.
“In order to ensure the long-term sustainability of our platform, and continue to host an inclusive community of creators and fans, we must evolve our content guidelines,” OnlyFans said in a statement to Observer. “These changes are to comply with the requests of our banking partners and payout providers.”
Users will still be allowed to post nude photos and videos as long as they are consistent with the website’s Acceptable Use Policy, the company said.
OnlyFans is growing rapidly. Last year, the platform facilitated more than $2 billion in transactions. The company takes home a 20 percent commission. It’s on track to more than double sales to $5.9 billion this year.
Despite its surging popularity, however, OnlyFans has been struggling to raise funds from venture capitalists, according to Axios.
Citing multiple anonymous sources, Axios reported that OnlyFans had enlisted a bank to help it solicit investors since last spring, but “several deep-pocketed firms quickly passed, not even engaging in serious due diligence.”