Trump Media unveils Truth Social streaming service, promising freedom from cancel culture

Trump Media announced on Tuesday plans to create a streaming service where, it said, creators "won't be cancelled."

The company's only current product, social media platform Truth Social, had fewer than half a million active users in February.

The company recently went public on the Nasdaq stock market, initially riding a wave of excitement that valued the company at $10.8 billion.

However, the stock has plunged by almost 70% ever since, with the company now valued at close to $3 billion.

But going public has helped the company's coffers. CEO Devin Nunes (a former congressman from California) told Fox Business that it has $200 million to fund its plans.

Whether Trump Media will be able to leverage the former president's popularity to attract users is an open question.

Truth Social's users are far and few compared to behemoths such as Facebook or X (formerly Twitter). Its revenue from 2023 was $4.1 million and lost $58 million.

The company said the streaming service will start on Truth Social before moving on to home TV streaming. It didn't provide a timeline for the rollout but said it will include ""news networks, religious channels, family-friendly content including films and documentaries; and other content that has been cancelled, is at risk of cancellation, or is being suppressed on other platforms and services."