Trump Media & Technology Group, the parent company of Truth Social, reported a loss of $400.9 million in the last year, with its annual revenue decreasing by 12% to $3.6 million. The company cited a revenue-sharing agreement with an undisclosed advertising partner as a primary factor in its financial downturn. Trump had previously transferred his significant shares into a trust. Following his bans from mainstream platforms, he launched Truth Social, yet the company lacks traditional engagement metrics seen in other social networks, raising concerns about its performance and viability.
Trump Media & Technology Group reported a loss of $400.9 million for the year and a 12% decline in annual revenue to $3.6 million.
The losses were partially attributed to a revenue-sharing agreement with an unidentified advertising partner, impacting the company’s financial performance significantly.
Despite the financial struggles, Truth Social was created in response to Trump's ban from major social media platforms following the Capitol riot.
The parent company has not disclosed important user metrics, raising questions about its growth and engagement compared to other social media platforms.
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