OnlyFans has announce that it is banning porn. This is to protect its partnerships with banks and payment providers who are gun-shy about dealing with porn companies, or companies perceived to be porn companies. And it’s also meant to get over the fact that OnlyFans is struggling to raise new funding as investors are understandably gun-shy about investing in porn.
The platform will still allow creators to post nude photos and videos, but not any “sexually explicit conduct.” The change goes into effect starting in October.
Here’s the thing. Now that this announcement is out there, creators on OnlyFans will flee the platform en masse. I say that because we saw this happen with Tumblr which was worth a lot of money because of porn. They were then sold by Yahoo to Verizon for a pile of money, who then banned porn. As a result of that people abandoned the platform and it was eventually sold to Automatic who paid cents on the dollar for what was left of it. Which wasn’t a lot.
So OnlyFans might be hoping that this plays out differently. But to be honest, I can’t see it. I think that OnlyFans is doomed. And they themselves will be responsible for their own demise.