Trump’s Truth Social announces streaming plans, shares sink

[LAUREN TAYLOR]

TRUMP MEDIA AND TECHNOLOGY GROUP CORPORATION, THE OPERATOR OF TRUTH SOCIAL, SAID TUESDAY IT IS GETTING INTO THE STREAMING GAME.

BUT THE MOVE IS BEING MET WITH SKEPTICISM AMONG INVESTORS.

T-M-T-G SHARES DROPPED 11 PERCENT FOLLOWING THE ANNOUNCEMENT.

AS QUESTIONS OVER THE COMPANY’S FUTURE CONTINUE.

TUESDAY’S TUMBLE FOLLOWED AN 18 PERCENT DROP ON MONDAY.

AND THE COMPANY’S STOCK HAS FALLEN 70 PERCENT FROM IT’S ALL TIME HIGH IN LATE MARCH, THE DAY AFTER IT WENT PUBLIC. 

ADDITIONALLY, T-M-T-G REPORTED LOSSES OF 58-MILLION DOLLARS IN 2023 AND REVENUE OF JUST FOUR-POINT-ONE-MILLION DOLLARS.

THE MOVE TO STREAMING BRINGS ADDED CONCERNS.

STREAMING IS A NOTORIOUSLY COSTLY UNDERTAKING.

AND EVEN MEDIA GIANTS LIKE DISNEY HAVE STRUGGLED TO TURN A PROFIT WITH THE PLATFORM.

BUT TRUTH SOCIAL SAYS IT WILL DELIVER CONTENT DIFFERENT FROM TRADITIONAL STREAMING OPTIONS.

PROVIDING A SPACE FOR INFORMATION AND ENTERTAINMENT RESTRICTED ELSEWHERE.

THE LIVE STREAMING PLATFORM WILL REPORTEDLY SCALE UP ITS CONTENT DELIVERY NETWORK IN THREE PHASES.

PHASE ONE INVOLVES A CONTENT DELIVERY NETWORK FOR STREAMING LIVE TV TO THE APP FOR ANDROID, I-O-S AND WEB.

PHASE TWO CONSISTS OF OVER-THE-TOP OR O-T-T STREAMING APPS FOR PHONES, TABLETS, AND OTHER DEVICES. 

AND PHASE THREE WILL SEE THE RELEASE OF TRUTH SOCIAL STREAMING APPS TO LIVE T-V.

T-M-T-G SAID IT’S NEW INITIATIVE REPRESENTS ITS COMMITMENT TO FREE SPEECH.

BY OFFERING AN OPTION FOR CREATORS STRUGGLING TO FIND AN AUDIENCE OR WHO, THE COMPANY CLAIMS, ARE BEING SUPPRESSED ON OTHER PLATFORMS.