Truth API brings Trump Media its first million: the price of early access to Trump's posts
Donald Trump's media structure has confirmed: the early access service to Truth Social posts has already generated over $1 million in revenue. This is the first significant financial success for a platform that has so far mostly generated losses.
The product in question is Truth API, launched in early August. The concept is simple: subscribers get priority access to posts from the social network's most influential accounts, including Trump himself. For this privilege, high-frequency traders are willing to pay between $60,000 and $100,000 per month. Currently, more than ten companies have signed up for the service, which has secured total revenue exceeding $1 million.
Mechanics and prospects
Interim CEO Kevin McGern confirmed that the project is at an early stage, but negotiations with AI companies are already underway, and there are plans to create a separate pricing tier for retail traders. In essence, Trump Media is monetizing an information advantage: Trump's posts can move markets, and those who gain access to them before others get a real trading edge.
However, this business model has already drawn sharp backlash from lawmakers. Congressman Jamie Raskin has sent an official request demanding the full list of service subscribers be disclosed. Democrats are pushing for an SEC investigation, seeing potential violations in the sale of access to market-relevant information tied to the U.S. president.
Financial context
Despite this success, Trump Media's core business remains deeply loss-making. The net loss in the second quarter stood at $238 million—more than ten times the figure from the previous year. Revenue grew 89% year-over-year but only reached $1.7 million. Most of the losses are tied to the revaluation of bitcoin and stocks on the company's balance sheet.
Analyst Markus Thielen from 10x Research gave a harsh assessment: Trump Media operates more like a crypto fund than a media company. Against this backdrop, the company abandoned the joint launch of a prediction markets platform with Crypto.com but continues to move toward a merger with energy firm TAE Technologies.
Over the past five days, the company's shares have lost 9% after a recent rally. Investors are closely watching whether Truth API can become a stable source of income, as McGern promises.
My take: The $1 million figure itself is insignificant for a public company, but the model of monetizing information that can move markets is a minefield from a regulatory standpoint. If the SEC takes an interest in this case, Trump Media could face precedent-setting risks that would wipe out any financial benefit from the new service.