Former US President Trump has decided to launch Trump Media and Technology Group with a ‘Truth Social’ application to challenge the rivalry of Big Tech Giants. It happens because Trump’s Twitter account was suspended for a few days after a mob incident in the White House after the 2020 Presidential election. He thought that these social media tech-giants denied his loud voice. This announcement came after his access was denied in various social media sites because of the Capitol insurrency in January 2021. Experts have evaluated the strength of competition between Trump Media and Technology Group and other tech giants, but the stock market reacted cheerfully.
Objectives of Trump’s Social Media Site
After merging with Digital World Acquisition Corp to transform private organizations into public, Trump has planned to become a publicly listed company. Digital World Acquisition Corp. shares augmented on Thursday that might have been seen as a confirmation for Trump before merging with it. However, investors are not the real supporter of Trump but have tripled their shares money till Thursday afternoon ridiculously. Facebook and Twitter banned Trump because a blog was already dismissed during posting on his official social media page at Twitter and Facebook.
He has justified and compared Facebook and Twitter to a robust supporter of the Taliban as they have banned US President Donald Trump’s voice. “Traditional voices are respected in social media as top 10 posts of politicians and commentators on Facebook are valued last week” these words were from newspapers after Trump’s announcement. TMTG has not positioned its places of interest low. Apart from the Truth App launch next month with a nationwide rollout, the company plans to establish a video-on-demand service named TMTG+, including news, podcasts, and entertainment-related videos. TMTG site is representing one slide for its competitors Facebook, Twitter, Netflix, Instagram, etc.
The same slide shows its future planning and development in cloud computing and payments to move ahead of Amazon, Google, Stripe, and Microsoft. TMTG social media portal will have a crowded space for its users like Big-Tech giants Facebook and Twitter. Though social media tends to access multiple platforms simultaneously, TMTG doesn’t intend to grow after striping users from other social media sites. Trump’s social media site will target far-right users who have left Facebook and signed up with alternative social media sites. The new Trump site will focus on conservative networks for viewers like Newsmax, OANN, and Fox news. Few experts also believe that Trump’s brand can initially compete against some well-known tech giants like Facebook and Twitter, but its sustainability is unpredictable in the long run. Next year’s mid-term elections in the USA can make Trump’s brand establish its firm step in a competition where many social media success. If Trump participates in the 2024 elections for US President, all its supporters will go to TMTG, and it can be the crucial assistance for the newly developed social media site. This deal with Digital World Acquisition Corp. has benefitted stock traders as its shares have increased to 357% from $35.34 to $45.50 per share. Its shares have gained more than 457 million times purchase compared to total Twitter stock trading up to 11.2 million shares traded at $65. Finally, Trump’s participation in Social Networking through TMTG is confirmed, but its sustainability is based on its overall performance and users participation. The activity at the TMTG platform will decide the future objective of the Trump team who works ethically to attract millions through advanced features. Once it is established, it may provide some marketing strategies for its users like Facebook and Twitter.