Sarasota, Fla. – Trump Media & Technology Group (NASDAQ:DJT), known for operating the social media platform Truth Social, announced it is expanding its streaming service with the launch of web-based Truth+. The service, accessible through player.truthsocial.tv, now allows Truth Social account holders to stream a variety of content, including news, entertainment and faith-based programming, directly from their computers, laptops and mobile phones.
The web-based version of Truth+ adds to the existing Android app and complements the streaming service previously available on a limited basis on the Truth Social platform itself. An iOS app version will be released soon. The new web service offers features such as video on demand (VOD), live TV rewind, up to 7 days of TV replay, network DVR, Spanish interface options, and more.
Devin Nunes, CEO of TMTG, emphasized that the launch of web-based Truth+ is an extension of the company’s efforts to enhance the viewer experience with family-friendly content and advanced streaming features. Nunes highlighted the ultra-fast delivery of the service provided through TMTG’s own multi-site content delivery network (CDN), which is designed to make the service more resilient against potential actions by big tech companies.
In the near future, TMTG plans to further expand Truth+’s reach by introducing the app to various connected TV platforms, including Samsung, LG, Apple TV, Android TV, and Amazon Fire. The company is currently beta testing its streaming technology, seeking user feedback, and will announce testing completion and full release in due course.
TMTG’s mission is to provide a platform for free expression in an environment of increasing censorship from major technology companies. The company’s independent CDN aims to ensure the availability and sustainability of its services.
This news is based on a press release from Trump Media & Technology Group. Forward-looking statements regarding the Company’s business strategy and future plans are subject to risks, uncertainties and assumptions, and actual results may differ from expectations.
In other recent news, Trump Media & Technology Group (TMTG) continued its expansion into the streaming services market with the launch of its Truth+ app for Android devices. The app provides access to a variety of TV programming and is integrated with social media platform Truth Social. Additionally, TMTG reported a net loss of $327.6 million in the first quarter due to pre-merger non-cash expenses. However, the company expects to receive inflows of more than $69.4 million from warrant cash exercises, with the potential to generate up to $247 million if all warrants are exercised.
TMTG also initiated a stock repurchase program, authorizing the purchase of 128,138 shares of common stock from certain executive employees. The Company is involved in several legal proceedings, including litigation regarding its intellectual property-related services agreement with United Atlantic Ventures and litigation involving ARC Global Investments II.
In addition to recent developments, TMTG announced the expansion of its content delivery network (CDN) operations to power its Truth+ TV streaming service. CDN expansion aims to create a robust platform that can resist censorship from big tech companies. TMTG also introduced live TV streaming for iOS device users, accessible through the Truth Social app, marking a significant step in the company’s media expansion efforts.
InvestingPro Insights
As Trump Media & Technology Group (NASDAQ:DJT) expands its streaming service with the launch of Truth+, it’s worth paying attention to key financial metrics and insights from InvestingPro.
The stock has shown positive momentum over various periods of time. DJT has a price total return of 10.47% over the past year and a return of 4.61% over the past three months. This upward trend is consistent with the company’s efforts to improve its product offerings and expand its user base.
DJT’s average daily trading volume over the past three months is 106.76 million shares, indicating significant investor interest in the stock. This high trading volume suggests that market participants are actively watching the company’s developments, including the recent launch of web-based Truth+.
InvestingPro tips provide additional insights that may be valuable to investors considering DJT. These tips provide a more comprehensive view of a company’s financial health and market position. InvestingPro has eight additional tips on DJT that can help investors make more informed decisions about this evolving media and technology company.
As TMTG continues to roll out new features and expand the reach of its platform, investors will need to watch carefully how these developments impact the company’s financial performance and stock price in the coming quarters.
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