London-based content subscription service OnlyFans has announced that it has canceled its previously announced plans to ban sexually explicit content from October 1. The decision to block adult content has generated a backlash from users.
“Thank you all for making your voices heard. We have received guarantees necessary to support our diverse community of authors, and suspended the planned October 1, a change of policy, - said service for Twitter. " OnlyFans is committed to accommodating all interests and we will continue to be the home of all creators."
Earlier, announcing the upcoming ban, OnlyFans explained its decision with the requirements of banking partners and payment service providers. Now, in a statement to The Verge, an official of the service said: "The proposed changes from October 1, 2021 are no longer required due to assurances from banking partners that OnlyFans can support all genres of authors."
The day before, CEO Tim Stokely told the Financial Times that the reason for the ban was actually problems with his banking partners, not Mastercard, as some had suggested. BNY Mellon, JP Morgan Chase and Metro Bank created “unfair” barriers to paying content creators because of OnlyFans' ties to the sex industry, he said.
OnlyFans had trouble attracting investors due to the platform's connection to the sex industry, and stopped receiving funding after announcing possible issues due to explicit content on the platform, sources close to the company told Insider. However, Stokely denies that the company's decision to ban was caused by problems with finding investors.
However, the company's announcement of the block has already triggered a churn of content creators who have opted to switch to alternative platforms.
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