SARASOTA, Fla. - Trump Media & Technology Group (NASDAQ:DJT), the parent company of the social media platform Truth Social, announced on Monday the launch of its custom-built content delivery network (CDN). The new CDN enables linear TV streaming for web users on truthsocial.com, marking a significant step in the company's media expansion efforts.
The CDN launch is part of a phased rollout of Trump Media's streaming platform, Truth+. Users on the web version of Truth Social can now access the streaming service through a dedicated icon. This feature allows them to watch content in stand-alone channels or in a picture-in-picture window while navigating the platform.
Devin Nunes, CEO of Trump Media & Technology Group, expressed enthusiasm for the CDN's successful operation through their first data center, emphasizing the company's commitment to creating an "uncancellable infrastructure network" that is owned and operated by TMTG. He also stated that Truth Social aspires to be the "unassailable fortress of free speech on the Internet."
The company's strategy includes expanding streaming options with a focus on news, Christian content, and family-friendly programming. TMTG plans to introduce TV streaming on the Android and iOS versions of Truth Social and subsequently launch streaming apps with advanced features such as an interactive electronic guide and network DVR.
As the streaming service continues to undergo stress and beta testing, TMTG will collect user input before announcing the completion of the rollout. Additionally, the company is working towards closing a perpetual licensing deal for CDN technology, which will allow TMTG to have full control over its streaming technology infrastructure.
With this development, TMTG aims to challenge the dominance of Big Tech and promote free speech by providing an alternative platform for content delivery and social media engagement.
In other recent news, Trump Media & Technology Group (TMTG) has announced the phased rollout of its new streaming platform, Truth+. The company also anticipates receiving over $69.4 million from cash exercises of warrants, which could potentially bring in up to $247 million if all warrants under the registration are exercised. Additionally, an effective registration statement will release $40 million of restricted cash on
TMTG's balance sheet. The company reported a significant first-quarter net loss of $327.6 million, attributed to non-cash expenses prior to its merger. Furthermore, TMTG has been investigating potential market manipulation of its stock.
InvestingPro Insights
As Trump Media & Technology Group (NASDAQ:DJT) gears up to enhance its media presence with the recent launch of its content delivery network, the market's response to these initiatives is a critical factor for investors to consider. The real-time data from InvestingPro paints a picture of the company's recent stock performance, which is reflective of investor sentiment towards TMTG's strategic moves.
InvestingPro data shows that the company has experienced a 1-week price total return of -3.23%, suggesting a recent dip in investor confidence. However, looking at a slightly longer horizon, the 1-month price total return stands at 0.67%, indicating a mild recovery or stabilization after the initial drop. The 3-month price total return is at 0.22%, which could be seen as the market cautiously reacting to the company's developments. Over the past 6 months, the stock has seen a price total return of -1.94%, and year-to-date, the return is almost parallel at -3.25%, aligning with the 1-week trend.
Interestingly, the 1-year price total return is at -5.75%, which may reflect the broader challenges the company has faced in a competitive media landscape. Despite these figures, the previous close price of the stock stood at 15381.5 USD, and the average daily volume over the last three months is a substantial 109.4 million shares, indicating a high level of trading activity around the stock.
InvestingPro Tips suggest that while the short-term returns have been negative, the market is still actively engaging with TMTG's stock, which could be a sign of underlying interest in the company's long-term prospects. Investors may want to keep an eye on user adoption rates of the new CDN and streaming services as these could be key drivers for the stock's future performance.
For those looking for deeper insights, InvestingPro offers additional tips on TMTG and similar companies, providing a broader context for making informed investment decisions. Currently, there are 15 more InvestingPro Tips available that could help investors better understand the potential risks and opportunities associated with TMTG's stock and the technology media sector as a whole.
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