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TMTG to launch live TV streaming on Truth Social

EditorIsmeta Mujdragic
Published 04/16/2024, 06:48 AM
© Reuters

Trump Media & Technology Group Corp. (NASDAQ:DJT) has completed the development of its live TV streaming platform, according to an announcement made today. The company, after a six-month testing period on its Web and iOS platforms, is ready to expand its content delivery network (CDN) and introduce streaming services through its social media app, Truth Social.

The rollout of the streaming content will occur in three phases, starting with the integration of the CDN into the Truth Social app, available for Android, iOS, and Web users. The second phase will see the release of stand-alone streaming applications for mobile devices, while the third phase will extend the service to home TV applications.

TMTG's streaming content is set to include a variety of live TV programming, encompassing news, religious channels, and family-friendly films and documentaries. Additionally, it aims to provide a platform for content that has been canceled or is at risk of cancellation on other services.

Devin Nunes, CEO of TMTG, expressed enthusiasm for the next stage of Truth Social's expansion, emphasizing the company's goal to offer a reliable space for high-quality news and entertainment that has faced discrimination elsewhere. Nunes highlighted the intention to support creators whose content struggles to find an audience due to what he described as "unjust reasons."

The expansion of Truth Social with the new CDN is expected to enhance the platform's reach and influence.

This news is based on a press release statement from Trump Media & Technology Group Corp.

InvestingPro Insights

As Trump Media & Technology Group Corp. (NASDAQ:DJT) forges ahead with its ambitious expansion into live TV streaming, recent market performance data could be indicative of investor sentiment surrounding these developments. The company's stock has experienced a 1-week price total return of -3.64%, suggesting a short-term reaction to market or company-specific events. Over a longer horizon, the 1-year price total return stands at a more robust 8.01%, reflecting a more favorable view from investors over the past twelve months.

With an average daily volume of 109.7 million, liquidity appears to be healthy, ensuring that investors have the ability to enter and exit positions in DJT with relative ease. The previous close price of $15,498.11 underscores the market valuation at which these transactions are occurring.

For those looking to delve deeper into the financial health and future prospects of TMTG, InvestingPro offers additional insights. One of the InvestingPro Tips suggests that investors should consider the company's ability to maintain and grow its user base post-launch as a critical factor in sustaining long-term stock performance. Another tip points to the importance of monitoring the competitive landscape, as TMTG's success will largely depend on its differentiation in the crowded streaming market.

Subscribers to InvestingPro can access a comprehensive list of 15 additional tips that provide a more nuanced understanding of the company's potential. To gain this valuable insight, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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