Trump Media & Technology Group, the parent company of Truth Social, is set to launch a premium service designed to provide Wall Street firms expedited access to its most impactful posts.
Scheduled for launch on August 1st, this service will enable immediate updates from key accounts, with former President Donald Trump currently boasting the highest follower count on the platform.
The initiative is aimed at creating a reliable revenue stream for the currently unprofitable company, helping it to stabilize its finances.
Primarily targeted at financial traders seeking rapid access to news that can impact the market, Trump’s posts have been known to trigger significant fluctuations, especially regarding trade and tariffs. In this fast-paced environment, even a brief delay can result in substantial losses for businesses.
Until now, traders and banks relied on manual monitoring of their social media applications. The new service will deliver exclusive posts directly to subscribing clients.
“The market is clearly responsive to posts from Truth Social,” stated Kevin McGahn, interim CEO of Trump Media, emphasizing that this service aims to ensure consistent profitability for the company.
This service will be available around the clock, seven days a week, providing continuous access to vital updates.
Launched in 2022, the social media app has identified instances of unauthorized data usage by companies for months.
McGahn cautioned that Trump Media plans to put an end to these practices and will soon require firms to subscribe for the official content feed.
While other social media platforms already monetize their data, this move underscores the unique intersection of Trump’s private business interests with his public persona as a president.
Source: www.bbc.co.uk