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Truth Social Announces Big Changes, Puts Mainstream Media On Notice

via Forbes
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Truth Social owner Trump Media & Technology Group announced plans to launch a streaming video service to expand its reach beyond its social media platform.

The service would focus on live TV content like news and religious channels as well as films and documentaries at risk of being canceled or suppressed on other sites.

“The streaming service is expected to focus on live TV including news networks, religious channels, family-friendly content including films and documentaries; and other content that has been cancelled, is at risk of cancellation, or is being suppressed by other platforms and services,” TMTG stated.

This move is aimed at boosting the company’s declining stock value since going public through a merger earlier this year.

TMTG needs millions of regular users to be successful, and its performance could suffer if Trump loses popularity or faces new controversies.

“In order to be successful, TMTG will need millions of those people to register and regularly use TMTG’s platform,” the company wrote. “If President Trump becomes less popular or there are new controversies that damage his credibility or the desire of people to use a platform associated with him, and from which he will derive financial benefit, TMTG’s results of operations could be adversely affected.”

While Truth Social has about 7 million users after launching months ago, only 2% actively use it according to surveys.

This indicates it has a long way to go to compete with larger established platforms. Other conservative sites like Gab and Parler also trail much bigger competitors.

TMTG hopes its new streaming offering can help it scale up its network effects by broadening its content offerings and audience.

“Social networks benefit from scale: The more users are on one platform, the more it increases in value — that is called network effects,” stated Roxana Muenster, a doctoral student at Cornell University. “It is marketed in opposition to mainstream media apps, which Trump and his supporters allege discriminate against their views and limit free expression. Its content and audience are overwhelmingly conservative and made up of the MAGA base.”

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