Truth Social business plans revealed in new SEC filing

by Summer Lane

Photo: Adobe Stock

A recent U.S. Securities and Exchange Commission (SEC) filing has revealed future plans for President Donald Trump’s social media platform, Truth Social.

According to a report from CBS, the SEC filing revealed that Truth Social may offer its users exclusive access to President Trump’s content by maintaining a six-hour protective period where his comments and statements will be available only on their platform. After six hours, the content can then be shared with other social media platforms.

Truth Social has exploded in popularity as a platform, especially among conservative users. The site launched in February, rocketing to number one in the Apple App Store. Currently, the app is poised as a competitor to social networking giant Twitter, with users posting “Truths” instead of “Tweets.” It is also competing with “Big Tech” sites like Instagram and Facebook.

Devin Nunes, the CEO of TMTG and a former California congressman, has previously stated that Truth Social is the “fastest growing social media company in history.”

However, while Truth Social plans to offer users exclusivity on the 45th president’s content, he will be able to post messages on any site “to which he has access…in addition, he may make a post from a personal account related to political messaging, political fundraising, or get-out-the-vote efforts on any social media site at any time.”

Also of note is TMTG’s license agreement with President Trump, he may also be featured in “any production intended to be streamed on a different VOD [Video on Demand] service, TMTG has the right to create a substantially similar video production on terms more favorable than those offered by the other service.”

Additionally, CBS reported that TMTG netted $2.1 million in sales from a licensing agreement with “one of the stockholders” in 2021, according to the filing.

Currently, the mobile app is available only on iOS devices through the Apple App Store. However, it is accessible to all Americans on any device via its web app.

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