Trump Media reports first sales for early access to president’s posts

Trump Media & Technology Group reported Monday that a handful of clients have agreed to pay for early access to President Donald Trump's posts on his Truth Social platform, dubbed Truth API. The company disclosed this during a presentation of a tenfold surge in second-quarter losses.

Truth API allows customers to receive Trump's market-moving social media posts ahead of their public release. Interim CEO Kevin McGurn announced in a press release that the company has secured over ten customer agreements for the service, though he did not name the clients. The Truth API has already begun generating revenue, with institutional customers signing up before its August 1 launch, according to the company.

The company's press release highlighted that monthly subscription rates for the early access service range from $60,000 to $100,000. In its press release, Trump Media & Technology Group reported a loss of $238.1 million for the quarter ending June 30, a stark contrast to its $20 million loss for the same period last year. The substantial decline was attributed to significant losses from digital assets, digital assets pledged, and equity securities, amounting to over $190 million.

Despite the financial setback, the company reported $1.7 million in revenue, marking an 89% increase from the corresponding period a year earlier. In its first fiscal quarter, the company also reported a net loss primarily due to a sharp drop in cryptocurrency valuations. The company further announced on Monday that it is well-positioned to finalize its proposed merger with nuclear-fusion company TAE Technologies by 2026.