Trump's Truth Social announces plans for live TV streaming service
Truth Social, a media company owned by former US President Donald Trump, has revealed plans to develop a live TV streaming service. The focus of the service will be primarily on news networks and religious channels, along with content that is either at risk of cancellation or suppression. The Trump Media and Technology Group (TMTG) intends to roll out this streaming service in three stages.
Truth Social's three-stage rollout for streaming service
The first phase of the rollout involves launching the company's content delivery network (CDN). This CDN, similar to those provided by companies like Cloudflare and Akamai, will be used to accelerate webpage loading times. TMTG has stated that its CDN will operate independently of major tech companies, thereby bypassing their regulations.
Streaming platform to support suppressed content
After establishing the CDN, TMTG plans to integrate it into Truth Social's mobile and web applications for live streaming. The company then aims to launch standalone streaming apps for mobile devices and TVs. According to CEO Devin Nunes, the service will provide a reliable platform for news and entertainment outlets facing discrimination from other channels and content delivery services.
Stock experiences downturn amid streaming service announcement
Following the announcement of the upcoming streaming platform, TMTG's shares fell sharply in the US. The stock dropped more than 10%, trading at $23.85 per share on Tuesday morning. This decrease brought the company's market capitalization below $3.4 billion, reducing its market valuation by over half since its first trading-week highs.
Truth Social's streaming service to enhance brand reach
The company believes that the streaming service will significantly enhance as well as expand Truth Social, an iconic Trump brand. The brand's mission of free speech deeply resonates with its user community. According to data aggregator SimilarWeb, Truth Social had 7.7 million total visits last month.
