OnlyFans drops plan to ban sexually explicit material | Technology

OnlyFans, the adult user-generated content site, is reversing its intention to ban “sexually explicit” content after securing an agreement with its payment processors, he said.

Last week, OnlyFans said it would ban adult material from October 1, much to the chagrin of its users and creators, who argued it risked driving the work underground.

Those plans were scrapped, the company said in a Tweeter. “Thank you all for making your voice heard. We have secured the assurances needed to support our diverse designer community and have put the policy change on hold on October 1. OnlyFans stands for inclusion and we will continue to provide a home for all creators. “

Angry users initially blamed OnlyFans for the planned ban on sexually explicit material. The company, which is 100% owned by porn mogul Leo Radvinsky, has long expressed a desire to move beyond adult content to more general content. Just two days before announcing the proposed ban, the company unveiled a new business venture, OFTV, which would expand its platform to smart TVs for the first time. Due to App Store rules, explicit content has been banned from this service – a fact some have seen as a harbinger of broader plans.

But on Tuesday, OnlyFans chief executive and co-founder Tim Stokely blamed the pornography ban at the feet of the company’s backers instead. “Policy change, we had no choice – the short answer is banks”, Stokely told the Financial Times in an interview.

“We pay over a million creators over $ 300 million every month on Flingster, and making sure that those funds get to the creators involves going to the banking industry.”

Stokely named one particular bank, BNY Mellon, as having reported and rejected wire transfers, while another, UK-based Metro Bank, closed the company’s accounts in 2019. BNY Mellon and Metro Bank have Declined to comment when asked about Stokely’s claims on Tuesday.

OnlyFans is also affected by new rules from payment processors such as Mastercard, which aim to crack down on abuses such as the non-consensual sharing of sexual images and child pornography. Requirements for adult content providers, announced by Mastercard in April, require “a documented verification of the age and identity of all persons represented and of those who download the content” and a pre-publication review by the owners of the platform.

“You might ask, ‘Why now? “” Mastercard said at the time. “In recent years, the ability to download content from the Internet has become easier than ever. All anyone needs is a smartphone and a wifi connection.

Private company OnlyFans reached a valuation of over $ 1 billion (£ 730 million) over the summer following an increase in use during the pandemic. It was popular among hobbyist creators for its relatively low subscription fees, earning them around 80% of their earnings. When news of the pivot project came to light, some feared they would be endangered by losing their main source of income.

“This change will put workers on the streets who might otherwise pay rent, it will starve the children of sex workers who could otherwise afford to feed them, and it will force workers currently working remotely online to engage in work. riskier street sex, ”Mary Moody, an online sex worker and co-chair of the Association of Adult Industry Workers and Artists, told The Guardian last week.

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