TRUMP MEDIA HAS STRUGGLED TO GROW. NOW IT'S SELLING $100,000 CONTRACTS FOR ACCESS TO TRUTH SOCIAL. - CBS NEWS
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| Source | Latest linked headline | Age |
|---|---|---|
| Business - Latest - Google News | TRUMP MEDIA HAS STRUGGLED TO GROW. NOW IT'S SELLING $100,000 CONTRACTS FOR ACCESS TO TRUTH SOCIAL. - CBS NEWS | 4 hrs ago |
WHAT HAPPENED
Trump Media, the company behind the social media platform Truth Social, is struggling to grow and has turned to selling contracts for access to the platform, with prices reaching up to $100,000, according to CNN. This move comes amid significant financial losses for the company. Trump Media posted a $238 million second-quarter loss, as reported by CNBC.
The company's struggles are highlighted by a sharp decline in traffic to Truth Social this summer, as noted by The New York Times. In an effort to turn things around, Trump Media is offering Wall Street firms early access to Trump's posts on the platform for a substantial fee, with contracts ranging from $50,000 to $100,000, as stated by CNN.
The challenges faced by Trump Media reflect the broader difficulties in the social media and tech industries, particularly with the decline in crypto values affecting related businesses.
- Trump Media is selling contracts for access to Truth Social for up to $100,000
- The company posted a $238 million second-quarter loss
- Traffic to Truth Social has fallen sharply this summer
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