In this photo illustration, the OnlyFans is seen displayed on a smartphone.
Pavlo Gonchar | SOPA Images | LightRocket via Getty Images
LONDON — OnlyFans said Wednesday it has “suspended” plans to ban pornography, in a stunning U-turn that came after fierce backlash from its users.
The online subscription platform said it secured the “assurances” required to continue allowing sexually explicit content. The London-based firm last week announced plans to prohibit porn from Oct. 1, citing pressure from its banking partners.
“Thank you to everyone for making your voices heard,” OnlyFans said in a tweet Wednesday.
“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,” the firm added. “An official communication to creators will be emailed shortly.”
OnlyFans’ decision to block sexually explicit posts drew swift condemnation from sex workers, who were in large part responsible for the platform’s success. The site lets adult performers sell “not safe for work” content for a subscription fee.
OnlyFans was not immediately available for comment when asked by CNBC for clarification on its reversal.
Founded in 2016, OnlyFans has become a social media powerhouse thanks to its looser approach to overtly sexual material. With more than 130 million users, 2 million content creators and a reported $150 million in free cash flow last year, OnlyFans has the kind of numbers many start-ups could only dream of.
What prompted the company’s decision to ban porn has been shrouded in mystery. OnlyFans CEO and founder Tim Stokely claimed in an interview with the Financial Times this week the firm was forced to do so after “unfair” treatment from banks.
Stokely name-dropped JPMorgan, BNY Mellon and Britain’s Metro Bank as examples of lenders that have made life difficult for OnlyFans and sex workers. All three banks declined to comment when contacted by CNBC.
There has been speculation that some other factors were at play. For instance, an Axios report said last week that the company was struggling to find external investment due to concerns with its hosting of adult content.
Stokely denied this was the case, saying OnlyFans “didn’t make this policy change to make it easier to find investors.”
OnlyFans’ founder also slapped down the suggestion that Mastercard may have been behind the ban. The payment network is set to bring in tougher rules for adult merchants from Oct. 1, the same day OnlyFans was due to prohibit sexually explicit content.
Stokely said the firm was “fully compliant” Mastercard’s new rules already and that they had “no bearing” on its policy change. A Mastercard spokesperson told CNBC the firm made no contact with OnlyFans related to its decision.
“They made this decision themselves,” the Mastercard spokesperson said.
OnlyFans has attempted to rebrand itself as a platform for all types of creators recently, claiming it is used by everyone from chefs to musicians. However, porn is by far the most popular category on the site.
