OnlyFans Is Said to Seek Funding at Valuation Above $1 Billion

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The popularity of OnlyFans grew in 2020 in light of the pandemic and has amassed a base of more than 130 million users largely for subscription fan pages centered around adult content. Now the U.K.-based company has announced it will ban sexually explicit content starting on October 1.

The decision was made to “comply with the requests of our banking partners and payout providers” in a statement made to Variety.

Beginning on the specified date, “OnlyFans will prohibit the posting of any content containing sexually explicit conduct,” the company said in a statement. “In order to ensure the long-term sustainability of the platform, and to continue to host an inclusive community of creators and fans, we must evolve our content guidelines.”

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Creators will continue to be allowed to post content containing nudity as long as it “is consistent with our Acceptable Use Policy.” The site’s current terms of agreement for content creators currently allows nudity except in the case of content featuring public nudity recorded in or broadcast from a jurisdiction where public nudity is illegal.

“We will be sharing more details in the coming days, and we will actively support and guide our creators through this change in content guidelines,” the company said. “OnlyFans remains committed to the highest levels of safety and content moderation of any social platform. All creators are verified prior to being able to upload any content to OnlyFans, and all uploaded content is checked by automated systems and human moderators.”

The growth of OnlyFans has led to the company being namedropped by Beyoncé as well as celebs such as Cardi BJordyn WoodsTyga, Blac ChynaTrey SongzK Michelle and more.

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Last month, OnlyFans approved 114,065 creator accounts (out of 279,222 applications), according to the company’s first transparency report. 15 accounts were deactivated last month after child pornography was detected on those accounts. The company launched a free streaming service called OFTV which won’t include any sexually explicit material and focuses on content from over 100 OnlyFans creators who focus on fitness, cooking, comedy, health, music and more.

Founded in 2016, OF has paid out more than $5 billion to creators worldwide. According to the site’s terms of use, the company keeps 20 percent of the revenue generated by its more than 2 million creators. Since the platform has become primarily used to house sexually explicit content, OnlyFans is only available on the web but not mobile app platforms in the Google Play store or the App store.

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OnlyFans To Ban Pornography From Its Platform In October  was originally published on theboxhouston.com