- Trump Media & Technology Group (NASDAQ:DJT) will launch a live-TV streaming platform tied to its social media network, Truth Social
- Content will focus on news, religion and family-friendly stories, including films and documentaries, with an emphasis on content being suppressed on other platforms
- Trump Media & Technology Group describes its mission as ending Big Tech’s assault on free speech by opening up the Internet and giving people their voices back
- Trump Media & Technology Group is down by 54.11 per cent since inception on March 26, 2024
Trump Media & Technology Group (NASDAQ:DJT) will launch a live-TV streaming platform tied to its social media network, Truth Social.
Content will focus on news, religion and family-friendly stories, including films and documentaries, in addition to “content that has been cancelled, is at risk of cancellation, or is being suppressed on other platforms and services,” according to Tuesday’s news release.
The news follows six months of testing on web and iOS, and the development of a three-phase plan:
- Phase 1 will see the newly listed company introduce the streaming platform on Truth Social for Android, iOS and online
- Phase 2 involves the release of a standalone Truth Social streaming app for phones, tablets and other devices
- Phase 3 will see Truth Social streaming reach the home TV market
Trump Media intends to operate the new platform “efficiently, cost-effectively and independent of Big Tech,” the news release continues, without offering much detail about how it plans to recover from steep losses surpassing US$58 million in 2023 alone.
Management expects the move into streaming to expand the Truth Social brand, propelled by its emphasis on free speech, an easy-to-use experience that deploys “cutting-edge technology to optimize speed, performance and security,” and the support of former U.S. President, Donald Trump, who owns 58 per cent of Trump Media shares, which are currently valued at a little more than US$2.1 billion.
Management insights
“We’re excited to move forward with the next big phase for Truth Social,” Devin Nunes, chief executive officer of Trump Media & Technology Group, said in a statement. “With our streaming content, we aim to provide a permanent home for high-quality news and entertainment that faces discrimination by other channels and content delivery services. There is a lot of great content that simply can’t find an audience for unjust reasons, and we want to let these creators know they’ll soon have a guaranteed platform where they won’t be cancelled.”
About Trump Media & Technology Group
Trump Media & Technology Group describes its mission as ending Big Tech’s assault on free speech by opening up the internet and giving people their voices back.
Trump Media & Technology Group (NASDAQ:DJT) last traded at US$26.61 per share. The stock is down by 54.11 per cent since inception on March 26.
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