The move is likely to anger many OnlyFans content creators, who rely on the service as a key source of income. OnlyFans was not immediately available for comment when contacted by CNBC. Some venture funds are prohibited from investing in sexual content sites due to agreements with their institutional backers. However, according to Axios, many investors are steering clear due to concerns over its adult content. With numbers like that, you'd think venture capitalists would be lining up to write a check for OnlyFans. More than 300 OnlyFans creators reportedly earn at least $1 million annually, while 16,000 creators make at least $50,000 a year. OnlyFans expects to hit $1.2 billion in revenues this year, and $2.5 billion by 2022, Axios reported. The company generated net revenue of $375 million last year, according to an Axios report Thursday, which cited an investor deck. OnlyFans claims to have over 130 million users and 2 million content creators.
OnlyFans boomed during the coronavirus pandemic, as internet users stuck at home searched for entertainment online and people let go from their jobs turned to the platform as an alternative way to make a living. The platform lets sex workers charge their fans a fee to view "not safe for work" material. "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.įounded by British businessman Tim Stokely in 2016, OnlyFans has risen in popularity in recent years, thanks in large part to its hosting of clips and photos from adult performers. OnlyFans' terms of service outline a number of things that are prohibited from its platform, including material involving people under age 18 and other illegal or harmful content. OnlyFans said Thursday it would allow certain posts containing nudity, so long as they adhere to its "Acceptable Use Policy." It's not clear how that will work in practice.
Pornhub denied claims it allows child sexual abuse material, and subsequently tightened its rules to prohibit uploads from unverified users. Payment processors Mastercard and Visa cut ties last year with rival Pornhub after accusations the porn site showed videos containing underage sex, rape and revenge porn. "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," OnlyFans said in a statement.