OnlyFans canceled its plan to ban pornographic content on its platform starting October 1, 2021. This cancellation was announced after they drew strong protests from users.
OnlyFans initially announced it would ban pornographic content on its site due to pressure from bank partners. Now a spokesperson for OnlyFans says it has secured assurances from partner banks so it can continue to support creators across all genres.
"Thank you to everyone who has made your voice heard," OnlyFans said in an announcement on Twitter, as quoted from CNBC, Thursday (26/8/2021).
"We have secured the necessary assurances to support our diverse community of creators and have suspended the planned October 1 policy change."
Thank you to everyone for making your voices heard.
We have secured assurances necessary to support our diverse creator community and have suspended the planned October 1 policy change.
OnlyFans stands for inclusion and we will continue to provide a home for all creators.
— OnlyFans (@OnlyFans) August 25, 2021
OnlyFans' initial decision to plan to ban pornographic content was immediately protested by creators and sex workers who depended on the platform for their lives during the pandemic and became the key to OnlyFans' current success.
The platform is used by creators and sex workers to sell 'not safe for work' content to users who pay a subscription fee. OnlyFans is the creator's choice because the commission deductions taken by the company are so small that most of the revenue can be pocketed by the creators.
Although better known for its adult content, OnlyFans tries to be a platform for more conventional types of creators such as music and cooking. They also plan to launch an OFTV app that will be accessible via smart TVs and will offer more family-friendly content.
OnlyFans founder and CEO Tim Stokely revealed the reasons behind their decision to ban pornographic content. In an interview with the Financial Times, Stokely said OnlyFans was forced to ban pornographic content due to unfair treatment from bank partners.
Stokely said banks such as JPMorgan, BNY Mellon, and Metro Bank had made it difficult for OnlyFans and its creators to operate. Stokely said BNY Mellon had refused to transfer funds to creators, and Metro Bank had closed the company's accounts in 2019.
There is also speculation that porn content makes OnlyFans difficult to bring in investors. Stokely denied these rumors and said OnlyFans did not take the decision just to make it easier to find investors.
Stokely also denied reports that payment service companies such as MasterCard were one of the factors that prompted OnlyFans to ban pornographic content. He said OnlyFans has new MasterCard rules that are getting stricter in regulating adult sites.