Trump Media is launching a new streaming platform on Truth Social, a service that will feature “overlooked” content before launching new channels on other devices, the company announced Friday, although few details remain on the programming that will be offered. .
Devin Nunes, executive leader of Trump Media, said in a statement that Truth will feature content “overlooked by giant corporations or in danger of being canceled,” though Nunes did not specify which systems it would stream, though he also claimed the platform would. become “irrevocable. “
Truth+ will undergo “rigorous stress testing” before rolling out to all Truth Social users, who will access the streaming platform through a “new content delivery network” when they search for more content on the site, Trump Media said .
Trump Media said in a regulatory filing last month that the company plans to begin generating revenue from Truth next year.
Trump Media shares rose more than 5% after Friday’s announcement, staving off a broader market selloff.
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Truth will first be available exclusively on Truth Social before launching as an app on Android and Apple devices, followed by streaming apps for home TVs, according to Trump Media.
It’s not yet clear exactly what screens or systems will be featured on Truth, Trump Media has said the platform will first include news, commentary, weather, lifestyle and entertainment channels. The company said it plans to expand its business in the long term. systems that will include “Christian content and family content. “
Former President Donald Trump has a net worth of $5. 2 billion, according to our latest estimates. The value of Trump’s roughly 59% stake in Trump Media, totaling 114. 75 million shares, is priced at $3. 2 billion at Friday’s stock price. Its net worth rose to around $200 million at times on Friday, and Trump Media’s inventories rose more than 6% in morning trading.
Trump Media announced an asset acquisition deal in a regulatory filing last month, indicating that Trump Media would launch an early edition of an unnamed streaming platform in the company’s third quarter, with a full launch expected through the end of the year. Trump’s motion media stocks have been volatile since their launch earlier this year, adding several double-digit declines, such as a 20% drop in the weeks following Trump’s conviction in his secret trial. Inventory has also increased several times, adding a record increase of 31%. rose on July 14, the first day of trading after an assassination attempt on Trump, and a 10% increase after Trump debated President Joe Biden in June.
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