Why OnlyFans Will Never Shed Its Reputation For Sexually Explicit Content - Video

Porn has been very good to OnlyFans. During the pandemic, the subscription-based social media platform popular with adult entertainers, sex workers and celebrities grew its revenues by 540% to reach $400 million by the end of 2020 and the company expects to bring in $1.2 billion by the end of this year. OnlyFans’ rise in popularity made Leo Radvinsky—the webcam porn entrepreneur who owns a 75% stake in the company—a billionaire in June, and Tim Stokely, the co-founder and CEO, and his father, Gary, centimillionaires. But adult content was never going to be the future for OnlyFans. On Thursday, Bloomberg first reported that the platform will be banning sexually explicit content starting in October. While this might be a shock to some, OnlyFans has been signaling this pivot for months, so no one should be caught with their pants down. This spring, OnlyFans soft-launched its safe-for-work OFTV, a video streaming app that features non-sexual content like cooking and fitness shows, as well as podcasts with interviews of hip-hop artists like Too Short. OFTV’s biggest show is Unlocked, which offers behind-the-scenes, safe-for-work interviews with creators like actor and musician Tyler Poser, model Bella Thorne and former porn star Mia Khalifa. For OnlyFans, which has become one of the biggest social media platforms seemingly overnight with 130 million users and more than 2 million content creators who have earned a collective $5 billion by selling subscriptions, going mainstream is motivated by the need for money. According to a statement from OnlyFans, the company is banning content that features “sexually-explicit conduct” to comply with “banking partners and payout providers.” Nudity, it added, will be allowed as long as it is “consistent” with its policies. Besides satisfying payment processors, OnlyFans is also trying to court investors who seem to be on the prudish side. According to Axios, OnlyFans is having trouble raising capital, even though it estimates it will generate some $2.5 billion in revenue next year, a 108% increase over 2021 and a 566% increase over 2020 revenues. Axios also reported that the Raine Group, a merchant bank that was helping OnlyFans raise money, had trouble getting investors to bite. (The money OnlyFans wants to raise would partially cash out majority owner Radvinsky, who made his fortune with web cam sites and a link referral business that advertised access to child porn and bestiality, a Forbes investigation found.)For now, porn stars such as Sophie Dee and Angela White earn more than $1 million a year on OnlyFans. Bhad Bhabie, who achieved 15 minutes of fame as a foul-mouthed teenager on Dr. Phil in 2016, also made over $1 million in a few minutes during her 18th birthday on OnlyFans. But now there are also plenty of less explicit, but still risqué creators flocking to OnlyFans, including rapper Cardi B and former Disney actor Bella Thorne.


All data is taken from the source: http://forbes.com
Article Link: https://www.forbes.com/sites/willyakowicz/2021/08/20/why-onlyfans-will-never-shed-its-reputation-for-sexually-explicit-content/


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