OnlyFans Announces Pornography Ban After Struggling to Bring Investors On Board
OnlyFans announced Thursday its intention to ban pornography.
According to Input, the company will still permit nude photographs and videos—which may still technically count as pornography in the eyes of many—but it will forbid all “sexually explicit conduct” by October.
The reason for the ban appears financially related. A recent Axios report cited “multiple sources” claiming that OnlyFans has been struggling to secure funding from investors.
“OnlyFans has a porn problem, even though it never once mentions porn in its pitch-deck (something that multiple investors called ‘disingenuous’),” the report says. “Some [venture capital] funds are prohibited from investing in adult content, per limited partnership agreements. Some investors say they could get past the porn, but worry that the company’s reputation would prevent it from attracting brand partners.”
The subscription service company, based out of London, has netted oodles of cash and is fully expecting to make plenty more through 2022. Money clearly isn’t an issue. Yet “several deep-pocketed firms quickly passed [without] even engaging in serious due diligence,” according to Axios.
It is not yet known if uninterested investors would be willing to change their minds in light of the ban on “sexually explicit conduct.” What is known, however, is that OnlyFans rose to prominence on an influx of so-called “sex workers” and the (mostly) male customers seeking premium content and direct access to private chats.
“OnlyFans grew off the back of sex workers, who found a safe haven in the platform to charge their fans for access to explicit photos and videos. Unfortunately, there remains a stigma in the world surrounding sex, and OnlyFans empowering a new generation of entrepreneurs to run their own independent businesses—and make millions doing it—apparently wasn’t enough to change that perception,” Input laments. “Now instead of looking like a positive force in the world, OnlyFans could be seen as betraying the people who got it where it is today.”
Aside from raking in endless trunks of money from porn-addicted men and the “content creators” they subscribe to, various reports suggest that OnlyFans has in the past turned a blind eye to online prostitution and the sale of explicit content by children as young as 12 years old. The company is undoubtedly trying to repair its image, but memories are long and the internet is forever. An overwhelming number of people will only use OnlyFans for, or always associate OnlyFans with, the buying and selling of pornography.
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