Trump Media Unveils Paid Service for Instant Updates
Trump Media & Technology Group, the company behind Truth Social, is introducing a paid service that will provide Wall Street firms with high-speed access to its most influential social media posts. This move is expected to generate a new revenue stream for the company, which is currently operating at a loss.
Targeting Financial Traders
The service, set to launch on August 1, will deliver instant updates from key accounts, including those of US President Donald Trump, who has the most followers on the platform. Financial traders often closely monitor Trump's social media posts, as they can cause significant fluctuations in global markets, particularly when discussing trade and tariffs. Even a delay of a few seconds can result in substantial losses for firms.
The Truth API
The new commercial data feed, named Truth API, promises to deliver posts to paying institutional clients in "milliseconds". This service will operate 24 hours a day, seven days a week, providing timely updates to clients. By offering this paid service, Trump Media aims to create a steady profit stream.
Blocking Unauthorized Data Access
The company has revealed that some firms have been copying its data without permission for months. Trump Media's interim boss, Kevin McGurn, warned that these methods will soon be blocked, forcing firms to purchase the official feed instead.
Potential Benefits for Trump
This move could substantially benefit Trump, as his family remains the majority shareholder in the company. As a result, the president stands to profit directly from selling expedited access to his public statements.
Unique Overlap Between Business and Public Role
While other social media networks already sell data, this development highlights the unique overlap between Trump's private businesses and his public role as president. The BBC has reached out to Trump Media for comment to confirm whether Trump's posts will be included in the paid feed but did not receive an immediate response.