OnlyFans — a site where users can subscribe to receive influencers’ suggestive photos and videos — is reportedly considering a transition away from pornographic content.
The site — which earned at least $400 million last year — is accordingly raising funds that would imply a $1 billion valuation.
As Bloomberg reports:
The startup, which is profitable, is working with an adviser to solicit interest from investors, said one of the people, who asked not to be identified because the discussions are private. The idea is to find backers who can help it become more of a mainstream media platform and lessen its reputation for porn.
Though OnlyFans has roots in adult entertainment, the site wants to be a place where a broad range of celebrities and athletes can connect with fans. It’s also looking to attract more advertisers, some of which may be wary of its porn ties.
In a recent move signaling a shift away from lewd content, OnlyFans partnered with boxer and promoter Floyd Mayweather, who launched an account to “communicate directly with his biggest fans and share a real glimpse into his life.”
“OnlyFans will be a new experience for fans. I’m looking forward to sharing a glimpse into my life and some never before seen content while getting to know top fans,” he explained in a press release.
Former Disney Channel star Bella Thorne recently joined the site to destigmatize “sex work,” earning $1 million in one day.
“Remove the stigma behind sex, sex work, and the negativity that surrounds the word SEX itself by bringing a mainstream face to it that’s what I was trying to do, to help bring more faces to the site to create more revenue for content creators on the site,” she wrote in a tweet.
Likewise, Danielle Bregoli — the “Cash Me Outside” girl who gained notoriety after a viral appearance on “Dr. Phil” — created an account shortly after her eighteenth birthday and earned $1 million in six hours.
OnlyFans’ pivot comes as MindGeek subsidiary PornHub faces a deluge of lawsuits from women who say that the site profited from videos depicting rape, child pornography, revenge porn, and other nonconsensual content in violation of federal law.
According to an action filed by law firm Brown Rudnick:
The lawsuit alleges claims under the Victims of Trafficking and Violence Protection Act of 2000, which provides a private right of action for victims of human trafficking against any entity that engages in trafficking or benefits from a trafficking venture… Brown Rudnick is seeking damages for the devastation this exploitation has caused these victims, protection for them and thousands of other victims from further exploitation, and the imposition of stringent policies and procedures that ensure only legitimate, legally compliant consensual content is permitted on MindGeek’s platform.
Last year, PornHub scrubbed 60% of their content after Mastercard and Visa announced that they would stop allowing the use of their cards on the platform.