Sex sales, but it may not last long-this is a message from OnlyFans, because it bans the explicit content that the world’s most popular social media platform is already known for.
Family business Shocking announcement was made on Thursday, Changed the previous guarantee that it would support adult performers, many of whom turned to its website during the pandemic to entertain targeted consumers.
The platform is a platform for sex workers, celebrities and influencers to collect pictures, videos and customized content from fans. Last year’s transaction volume increased by 615% to 1.7 billion pounds. It is expected to have a pre-tax profit of 300 million pounds this year.
For some time, this British platform has been trying to attract more mainstream influencers and brands who are cautious about pornography. But the policy change occurred after increasing pressure from financial services companies.
“Banks and other financial partners are introducing more control measures. We want to ensure the sustainability of our business, and we are taking steps to make these people more acceptable to us,” said Gai, the treasurer and founder of OnlyFans, Tim’s father. Istock told the Financial Times.
The company-which prohibits pornography but not nudity-is betting that the initial decline in revenue will pave the way for it to become one of the world’s largest social media platforms, where influencers can directly charge fans for exclusive pictures, videos and conversations cost.
In recent months, the emergence of more mainstream creators has increased. Singer Cardi B and actress Bella Thorne are among the first celebrities to open accounts.
In June, OnlyFans started Ready to sell shares Leonid Radvinsky, the Ukrainian-American entrepreneur behind the porn site MyFreeCams, hopes to make a profit by selling some of his shares.
A person close to OnlyFans said that these plans have been shelved because the company realized that as long as it plans to make major changes to its business model, it will not be able to attract new investors.
Josh Constine, a major investor in venture fund SignalFire, said that due to the imminent risk that payment processors such as Mastercard might be cut off, investors have been “squeamish” with OnlyFans, and Mastercard will soon implement the new The rules require stricter content censorship of pornographic content and require the identity verification of performers to address “risks associated with this activity.”
Constantin said the pornography ban “may attract more investors” but it “is bad for sex workers. [and] It is not good for OnlyFans, because the boundary between nudity and explicitness is difficult to ease.”
OnlyFans stated that it has conducted a “thorough review” on its website and that these changes will not make the task any more difficult.
Kat Revenga, vice president of marketing for FanCentro, OnlyFans’ smaller competitor, said that more than 400 new content creators have flooded its site in the past 24 hours.
She was not surprised by the competitor’s announcement. “They never want to say publicly that they are an adult business, which is a bit sad because society is so hypocritical about sex, so you have to do it to survive,” she said.
Dannii Harwood is a friend of Stokelys and the first glamour model to sign on the site. He disagrees with the statement that OnlyFans will lose its essence. “OnlyFans is always sexy,” she said, adding that she and the approximately 250 OnlyFans models she manages are already within the new stricter regulations.
“I always tell the girls I manage, less is more. Guys don’t go to OnlyFans to watch porn, they can get it for free. They want to interact,” Harwood added.
British influencer marketing consultant Scott Guthrie said the move represents a “great opportunity” for OnlyFans because it can help attract more mainstream celebrities to visit the site.
For example, he estimates that if Cristiano Ronaldo joins and gives core fans a glimpse of his training or nutrition system behind the scenes, 1% of the football player’s 330 million Instagram followers will sign up for about $10 a month, OnlyFans The reduction may be approximately $8 per month.
But social media ignited ridicule of OnlyFans, and critics likened the decision to Dominos banning pizza, noting that The rapid decline of the blog site Tumblr After its decision to expel pornography in 2018.
Twitter will now become one of the few popular social media sites that still allows pornography and does not require users to verify their age.
However, the site is promoting payments through tips and subscriptions, and may encounter the same challenges as OnlyFans. “Anyone who accepts credit card payments will eventually solve this problem,” Constantin said.
Rex Woodbury, head of San Francisco investment firm Index Ventures and Instagram influencers, said the move will prompt creators to find platforms that allow more loosely regulated cryptocurrencies to make payments, or allow them to build their own distribution. Digital tools for more fans directly.
“The story of OnlyFans will be a stark reminder that’building your house on someone else’s land’ is challenging.”
Some groups are very happy. The National Center for Sexual Exploitation, an anti-pornography organization, claimed that OnlyFans’ decision was made after the organization lobbied against “shameless behavior that still promotes grooming, sex trafficking, and exploitation of underprivileged groups.”
OnlyFans will not say how many performers they expect will have to reduce their content or leave the site, but many in the porn industry criticize the company for avoiding the already marginalized group of workers.
“We have seen this before. Due to the explicit content of sex workers, online platforms like Tumblr, Patreon and now OnlyFans have become popular and become mainstream, but when payment processors threaten to abandon them in the name of morality , They will kick sex workers out,” said Erika Lust, a porn producer based in Barcelona.
Katrin Tiidenberg, a sociologist who studies linear culture at Tallinn University, believes that banks and technology companies are becoming the drivers of what she calls the “de-platformization” of sex workers.
“We don’t want financial companies to become [culture and sexuality] What they are doing is basically telling us where we can spend our money,” she said.