SARASOTA, Fla. - Trump Media & Technology Group Corp. (NASDAQ:DJT), known for its social media platform Truth Social, has completed the research and development phase for its new live TV streaming platform. The company, which has been testing the platform for six months, announced its plans to expand its content delivery network (CDN) and roll out streaming content in three phases.
The first phase involves integrating the CDN with the Truth Social app across Android, iOS, and web platforms. This will be followed by the release of standalone over-the-top (OTT) streaming apps for mobile devices and other digital platforms. The final phase will introduce streaming apps for home televisions.
TMTG's streaming content is set to feature live TV, including news networks, religious channels, and family-friendly films and documentaries. It will also host content that, according to the company, has faced cancellation or suppression on other platforms.
TMTG CEO Devin Nunes expressed enthusiasm for the expansion, stating that the initiative aims to provide a "permanent home for high-quality news and entertainment" that has been discriminated against by other channels. He emphasized the company's commitment to offering a platform for creators who struggle to find an audience due to "unjust reasons."
The company's CDN is designed to be efficient and independent of Big Tech, focusing on user-friendly technology that enhances speed, performance, and security for video streaming while minimizing interruptions. TMTG believes that the CDN will significantly improve the Truth Social experience, which aligns with the brand's mission of promoting free speech.
Despite the optimistic outlook presented in the press release, it is important to note that forward-looking statements involve risks and uncertainties. The company acknowledges that actual results may differ from expectations and emphasizes that such statements are not guarantees of future performance.
InvestingPro Insights
As Trump Media & Technology Group Corp. (NASDAQ:DJT) gears up to enhance its user experience through its new live TV streaming service, recent market data reflects a mixed short-term performance for the company's stock. According to InvestingPro metrics, the 1-week price total return as of April 17, 2024, shows a decline of 3.64%, while the year-to-date (YTD) return also indicates a negative trend with a -3.21% return. This could suggest a cautious investor sentiment in the immediate term amidst the company's developmental announcements.
However, looking at a longer time horizon, the 1-year price total return paints a more optimistic picture with an 8.01% increase, hinting at underlying confidence in the company's long-term strategy and growth potential. The average daily volume over the past three months stands at 109.7 million, which showcases a healthy level of trading activity and investor interest in the stock.
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