OnlyFans makes U-turn on policy change plans


British unicorn OnlyFans has scrapped plans to remove sexually explicit content from its platform from 1 October.

“Thank you to everyone for making your voices heard,” it tweeted.

“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.”

READ: OnlyFans: British porn unicorn set for expansion after funding round

The policy change had met huge backlash from sex workers groups, as many rely on the platform for income.

OnlyFans, which self-describes as a “subscription social platform”, was created to connect content creators and fans and was valued at US$1bn earlier this year.

It takes 20% of all payments made by users and saw a 75% increase in new creators during the pandemic.

Earlier this week, founder Tim Stokely told the Financial Times that the “increasingly unfair actions” of banks were the cause of the ban.

He said that Metro Bank (LSE:MTRO) had disrupted the service by shutting down the group’s corporate account in 2019, while Bank of New York Mellon “flagged or rejected” cash associated with OnlyFans, and JPMorgan Chase is “particularly aggressive in closing accounts of sex workers”.

Stokely said that the ban was needed to “safeguard their funds and subscriptions from increasingly unfair actions by banks and media companies” and that the company had “no choice”.


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