August 26, 2021 | The Biz

OnlyFans backs away from porn ban plan

We're not sure what OnlyFans thought would happen when it announced it was banning porn, the very thing that made it famous. Users were not impressed and many started moving to other platforms; the financial hit for the company must have been huge and immediate, because OnlyFans is suspending the ban.

"We have secured assurances necessary to support our diverse creator community and have suspended the planned October 1 policy change," the company tweeted yesterday. "OnlyFans stands for inclusion and we will continue to provide a home for all creators."

When the porn ban was announced, the company was quick to blame financial institutions and payment processors for forcing it to make the change.

"The change in policy, we had no choice — the short answer is banks," CEO and founder Tim Stokely told the Financial Times.

No official statement about the reversal has been released, but when pushed for comment a rep added: “The proposed Oct. 1, 2021 changes are no longer required due to banking partners’ assurances that OnlyFans can support all genres of creators."

The reality is that OnlyFans wouldn't last long without porn. It would also need to change its name to OnlyYawns.