When Only Fans announced that they would be blocking adult content on the platform, creators like Pyra Faye were shocked and disheartened.
"A lot of us found out about the changes that they were planning to make in the news before they notified us directly," Only Fans content creator Pyra Fae told Cheddar News' Michelle Castillo. "And for those adult content creators who are invested and have spent time building a following on OnlyFans, the initial news was scary, as many of us wondered if we would be able to maintain the financial commitments we made based off of our OnlyFans income."
The company has since changed stances, saying it would suspend its initial ban on sexually explicit content. But Pyra Fae said the damage has been done as she's noticed website traffic decline, which has impacted her business. In addition, creators are growing wary of building status on a platform that can ban them at a moment's notice.
"As people heard the news, they became less trustworthy of OnlyFans," she said.
Platforms like OnlyFans are important for those in the adult industry because they provide a safe digital space without having to face the dangers of in-person interactions. In addition, these sites allow men and women to control more of the revenue if their content does well rather than be forced to accept one-time payments. But as credit card companies crack down on providing services to companies that may have illegal content, many of them are finding their content doesn't have an online home.
Updated September 3, 2021 at 2:00 pm ET to correct byline.
Uber missed analysts' projections for earnings per share and revenue this past quarter. Cheddar News takes a closer look at the numbers and explains what to expect for the rest of the fiscal year.
Cheddar News breaks down some of the top business stories to look out for, including WeWork's bankruptcy filing and fast-fashion retailer Shein reportedly expecting a $90 million valuation upon its market debut. Plus, a new EV truck will have a backup gas generator.
WeWork has filed for Chapter 11 bankruptcy protection.
Bumble, the female-focused dating app, announced that Whitney Wolf Hurd, the company's founder and CEO, will step down in January.
WeWork officially has filed for bankruptcy.
With interest rates high, housing inventory low and Veterans Day just around the corner, Cheddar News took a look at how the current market is impacting those who served and continue to serve our country. Patton Gade, national director of military lending with UMortgage, explains how a VA loan works, its benefits and what's involved in the process of purchasing a home.
Stocks were mixed in Tuesday's early session as Wall Street came off a strong rally last week.
Google on Monday confronted the second major U.S. antitrust trial in two months to cast the internet powerhouse as a brazen bully that uses its immense wealth and people's dependence on one of its main products to stifle competition at consumers' expense.
Hilton Grand said it's in the process of purchasing Bluegreen Vacations in a $1.5 billion deal.
Walt Disney Co. named former PepsiCo veteran Hugh Johnston as its new chief financial officer.
