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

The parent company of US President Donald Trump's social media platform Truth Social reported on Monday that it has secured agreements from customers willing to pay for early access to the president's posts. This announcement came alongside a tenfold increase in the company's second-quarter losses. Trump initiated the establishment of Truth Social in 2022 following his ban from Twitter, now known as X, and utilizes it as his primary platform for significant announcements.

Last month, Trump Media & Technology Group disclosed that customers could purchase early access to the president's market-moving social media content, a service known as the Truth API. According to interim CEO Kevin McGurn, more than ten customer agreements have been signed for this product. The company highlighted that the Truth API has garnered interest from institutional customers since its launch on August 1 and continues to attract more clients despite facing inaccurate criticisms.

The business model of selling high-speed access to Trump's posts has sparked discussions about the monetization of the presidency. According to reports by Axios, monthly subscription rates for the early access service range from $60,000 to $100,000. In its press release, Trump Media & Technology Group disclosed a loss of $238.1 million for the quarter ending June 30, marking a significant contrast to the $20 million loss reported for the same period in the previous year.

The decline was largely attributed to decreases in non-cash assets, including over $190 million in losses from digital assets, digital assets pledged, and equity securities. Meanwhile, the company reported $1.7 million in revenue, a 89% increase from the same period a year earlier.

In its first fiscal quarter, Trump Media & Technology Group also reported a net loss, primarily due to the sharp drop in cryptocurrency valuations. The company further stated on Monday that it is well-positioned to finalize its proposed merger with nuclear-fusion company TAE Technologies by 2026.