Donald Trump's social media platform, Truth Social is going to license its data to financial services firm on the Wall Street, news agency Axios reported citing Trump Media and Technology interim CEO Kevin Mcgurn on Thursday.
The lincensing will be done through introducing a new backend interface that will allow financial services companies to access real-time Truth Social data for a fee.
This marks the media business's foray into licensing, Mcgurn stated. A key part of that strategy is the launch of Truth API on August 1. The service will provide real-time access to posts from the platform's 10 most-followed accounts, with higher-tier paid plans expected to include access to more accounts.
The initial offering covers high-profile accounts whose posts can influence policy and financial markets, including US President Donald Trump, the White House, FBI Director Kash Patel, White House Deputy Chief of Staff Dan Scavino and Health and Human Services Secretary Robert F. Kennedy Jr.
McGurn said TMTG has already secured customers ahead of the launch, including financial news organisations and high-frequency trading firms, though he did not disclose their names.
He added that several firms have been scraping Truth Social data for months, often in breach of the platform's terms of service, and reselling the information to institutional clients. According to McGurn, the official API will offer faster access while making it more difficult for unauthorised data providers to operate.
TMTG went public in 2024 through a merger with a special purpose acquisition company (SPAC). While the company initially relied on advertising revenue from Truth Social, it has since expanded into subscription services, streaming through Truth+, financial services and bitcoin-related businesses.
The company is also waiting on the the completion of its proposed $6 billion merger with fusion energy firm TAE Technologies as it seeks to transform into a broader holding company. McGurn said its businesses are centred on themes such as free speech, decentralised finance and energy.
Despite its expansion plans, TMTG remains small compared with major media and technology companies. Its media business generated $3.68 million in advertising and subscription revenue last year, while it reported a net loss of $712 million, largely due to accounting charges linked to its cryptocurrency investments.
Beyond the API, TMTG sees licensing as another long-term revenue opportunity. McGurn said the company is also in talks to license Truth Social data to artificial intelligence companies for training large language models, similar to agreements pursued by other social media platforms.
He argued that licensing could become a dependable recurring revenue stream, noting that financial markets have already reacted sharply to posts on Truth Social. Last year, markets rallied after President Trump posted, "THIS IS A GREAT TIME TO BUY!!!" Hours later, he announced a 90-day pause on most reciprocal tariffs while increasing tariffs on China.
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