Trump Media revenue triples on paid data feed

Trump Media and Technology Group reported Monday that third-quarter revenue increased by 205%. The company attributed this jump primarily to sales of the Truth API. This service provides a direct feed of Truth Social posts to external clients. The product targets news organizations and financial trading firms seeking low-latency data.

Customers pay between $60,000 and $100,000 monthly for access. The feed delivers real-time updates from top-ranked accounts. Trump Media launched the offering in August after announcing plans in July. The company stated that the data stream allows algorithmic traders to bypass manual tracking. It noted that markets often react to posts on the platform.

President Donald Trump is the largest user of the social network. His revocable trust holds more than 41% of Trump Media shares, according to S&P Capital IQ data. Donald Trump Jr. serves as the sole trustee with voting and investment power. The company's stock, designated by the ticker symbol DJT, closed at $4.06 on Monday. This valuation places the firm at $1.13 billion. Shares have fallen 69% since the start of the year.

Reuters reported last month that Bloomberg and two Wall Street trading firms signed up for the service. Bloomberg declined to comment in October. The other two firms did not respond to requests for comment. Democratic Senators Elizabeth Warren and Adam Schiff criticized the arrangement in July. They asked the Securities and Exchange Commission to determine if the deal violates federal securities laws. They called the feed an outrageous abuse of the presidency for personal benefit.

Trump addressed his finances in a Sunday interview on CBS' 60 Minutes. He stated that he devotes almost no time to his net worth. The president said he has more money than he expected and noted that his son watches over his assets. Trump added that he does not talk to his son about the matter. His most recent financial disclosure filed in June spanned more than 900 pages. This contrasts with eight pages for President Barack Obama's final form and 11 pages for President Joe Biden's form.

The White House maintains that neither the president nor his family engages in conflicts of interest. Trump Media's interim CEO Kevin McGurn said in July that the feed would serve firms requiring machine-readable data. The company acknowledged the service could be market-moving. The data includes posts from the highest-ranking accounts on the platform.

The next step involves the SEC's review of the senators' inquiry. Trump Media will continue to report quarterly results. The stock price remains volatile. The company's market cap stands below its initial public offering valuation.