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OnlyFans Founder Finally Speaks Out On Porn Ban And Says ‘We Had No Choice’

by : Harrison Williams on : 24 Aug 2021 22:03
@timstokely/Instagram/PA Images

The founder of OnlyFans has come forward to address why he chose to ban sexually-explicit content from the platform.

While OnlyFans is known for its sexually-explicit content, the platform recently announced it has banned pornography. Now after backlash from the content creators who use the site, as well as speculation as to why the company made such a drastic move, OnlyFans founder Tim Stokely has come forward with a few answers.

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Speaking with the Financial Times, Stokely said he was having difficulty working with banks due to ‘reputational risk risk’. This was previously speculated as the reason why OnlyFans would make such a major shift, as the company was allegedly looking to raise funds from investors.

@timstokely/Instagram

As the company’s CEO as well as the founder, Stokely said the reason behind the switch is simple. ‘The change in policy, we had no choice,’ he said. ‘The short answer is banks.’

Stokely went on to explain that OnlyFans was having difficulty with financial institutions and banks constantly ‘flagging and rejecting’ transactions that were made using the platform.

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According to Stokely, the move to ban sexually explicit content was made in order to protect the people who used the platform. ‘This decision was made to safeguard [our users’] funds and subscriptions from increasingly unfair actions by banks and media companies,’ he said. ‘We obviously do not want to lose our most loyal creators.’

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Stokely divulged that OnlyFans pays out over $300 million a month to content creators. With a commitment to paying out creators fairly, ‘making sure that these funds get to creators involves using the banking sector.’ As such, OnlyFans likely did not want to risk the notion that creators might not be paid for their content.

While Stokely mentioned that he was worried of losing the most loyal OnlyFans creators, it seems the ban of sexually explicit content might be pushing those creators to new platforms. Once the ban on pornography was made, thousands of content creators flooded a website called Fansly and even crashed the website for a short period of time.

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As OnlyFans transitions away from sexually explicit content, it has since launched a new app called OFTV, which boasts an array of content creators, including chefs and fitness instructors.

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    OnlyFans Founder Says Banks Are to Blame for Pornography Ban: 'We Had No Choice'