Trump Media & Technology Group Announces New Streaming Service
Truth+ to Deliver News and Entertainment
The Trump Media & Technology Group has announced plans to break into the television market with a new streaming service, Truth+. The service is set to deliver news, political commentary, lifestyle, and entertainment programming. The company's CEO, Devin Nunes, stated that the service aims to provide a safe space for free speech and a reliable home for TV content neglected by large corporations.
Truth Social: A Response to Big Tech
Former President Donald Trump founded Truth Social in 2021 as a response to what he saw as the "tyranny of Big Tech". The platform, which was valued at around $8 billion in its initial public offering in 2024, was created after Trump was banned from Twitter following the protests in Washington, D.C. in January 2021. However, his Twitter account was later restored in 2023 by new owner Elon Musk.
Stock Market Reaction and Future Plans
The announcement of the new streaming service led to an almost 8 percent increase in the company's stock last Friday. In addition to this, the Trump Media & Technology Group has revealed further plans to allow streaming on Truth Social for Android and Apple iOS devices. The company also aims to create programming that focuses on Christian and "family-friendly" content.
Introduction of Streaming Apps
The company announced that the introduction of these channels is just the initial phase of Truth Social's TV streaming platform. The next phase is expected to feature streaming apps integrated with the Truth Social platform, offering enhanced features such as an interactive 14-day electronic guide, instant catch-up TV, network DVR, video on demand, and more.
Upcoming U.S. Presidential Election
The U.S. presidential election is less than 95 days away, and no debate has been scheduled yet between Trump and the presumptive Democratic nominee Kamala Harris. Harris recently announced that she has named Tim Walz, the liberal governor of Minnesota, as her running mate.
Bottom Line
The move by Trump Media & Technology Group to create a new streaming service is a significant development in the media landscape. It represents a pushback against perceived Big Tech censorship and offers a new platform for content that may not find a home on mainstream channels. But what do you think? Is this a positive step towards diversifying the media landscape, or could it lead to further polarization? Share your thoughts with your friends and sign up for the Daily Briefing, delivered every day at 6pm.
