Donald Trump's Truth Social seems to be looking to debut its own streaming TV service amid financial troubles looming over the platform and its owner.
In a press release on Tuesday, Trump Media, the owner of Truth Social, announced plans to build its own streaming platform to provide a "permanent home" to news that "face discrimination" by other online sites.
(Photo : Stefani Reynolds/AFP via Getty Images)
CEO Devin Nunes even further touted the planned streaming service as the only platform where content creators "won't be canceled."
Nunes' promise seems to be directed at Trump supporters, who often get "canceled" or banned from other social platforms for spreading conspiracy theories, hate speech, and inciting violence.
Trump himself was previously banned on X (formerly Twitter) and Facebook for his involvement in overturning the 2020 Elections result during the Jan. 6 Capitol Riot.
The press release indicated that the streaming live TV service will be integrated into the existing Truth Social platform rather than being released separately.
No confirmed dates for the planned streaming service have been announced yet.
Also Read: Donald Trump is Asking Elon Musk to Buy Truth Social Ahead of 2024 Elections: Sources
Truth Social Faces Headwinds After Going Public
The latest move from the right-wing-led social media platform follows just three weeks after Trump Media began publicly
That same span of three weeks also marked a continuous slide down in its stocks, recording a 47% drop in its stock value to from $49.95 to $26.40 each share.
It did not help that the site is also slowly losing its active users with only a little over 5 million monthly users left, dwarfed by other platforms like Facebook, Instagram, and X.
Earlier reports from The Washington Post hinted that Trump was even looking to sell the platform to X Elon Musk before the company secured the deal with Digital World Acquisition Corp.
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Trump Struggles to Keep Out of Financial Troubles
Truth Social is not the only one facing threats of bankruptcy. The head honcho himself is being hounded by several litigations regarding accusations made during his presidency.
Just earlier this month, Trump paid a $175 million bond to temporarily suspend a massive civil fraud case made against him for lying about company assets.
The bond payment was originally $454 million but the judge agreed to let Trump pay the bill in smaller installments within 10 days.
With the impeached president heading for reelection in the upcoming voting polls this November, it remains uncertain how Trump will recover all the lost money as other lawsuits loom over.
