From NBC News · Steve Kopack · · 2m
Trump Media surges on high-speed feed sales
Trump Media's revenue jumped 205% in Q3, driven by selling direct access to Truth Social posts to Wall Street firms and news organizations for sixty to one hundred thousand dollars monthly.
In brief
Trump Media's revenue jumped 205% in Q3, driven by selling direct access to Truth Social posts to Wall Street firms and news organizations for sixty to one hundred thousand dollars monthly. Trump Media reported a 205% revenue surge in Q3 primarily from selling high-speed access to Truth Social posts, raising…
Revenue surge from new feed
Trump Media reported Monday that revenue surged 205% in the third quarter, primarily driven by selling high-speed access to Truth Social posts.
What the Truth API does
The Truth API allows news organizations, Wall Street trading firms and other services to pay sixty thousand to one hundred thousand dollars per month for direct feed access.
Trump's stake in the company
Trump's revocable trust owns more than 41% of Trump Media and Technology Group. Trump is the most prominent user of Truth Social.
Trust structure and control
In a June SEC filing, Trump's trust said Donald Trump Jr. was the sole trustee with sole voting and investment power over its holdings.
Stock performance and valuation
Trump Media's stock, trading under symbol DJT, closed at four dollars and six cents Monday, giving it a market valuation of one point one three billion dollars. It is down 69% this year.
CEO on market impact
Kevin McGurn, interim CEO of Trump Media, said in July that markets already move on Truth Social posts and trading firms could benefit from the high-speed feed.
“Markets already move on Truth Social posts”
Early customers identified
Reuters reported in October that Bloomberg and two Wall Street trading firms had signed up for the service. Bloomberg declined to comment to NBC News.
Democratic senators' objection
Senators Elizabeth Warren of Massachusetts and Adam Schiff of California said the Truth Social feed amounts to an outrageous abuse of the President's office for his personal benefit.
“an outrageous abuse of the President's office for his personal benefit”
Trump's response on enrichment
Trump told CBS News' 60 Minutes on Sunday he devotes almost no time to his net worth and his son watches over his money. He said he does not even talk to him about it.
“I devote almost no time to my net worth”
The bottom line
Trump Media reported a 205% revenue surge in Q3 primarily from selling high-speed access to Truth Social posts, raising conflict-of-interest concerns from Democratic senators.
