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Trump social media platform faces money woes, modest following

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Truth Social bills itself as Donald Trump's answer to platforms like Twitter, which the former US president was booted off of

Truth Social bills itself as Donald Trump’s answer to platforms like Twitter, which the former US president was booted off of – Copyright Sony Interactive Entertainment Inc/AFP –

Signs are growing that Donald Trump’s social media platform Truth Social is in financial trouble, with just a modest following six months after launching.

Fox Business Network reported Thursday that the platform has halted payments to the company that hosts it, RightForge, and owes $1.6 million.

Neither the platform’s parent company Trump Media and Technology Group nor RightForge answered AFP requests for comment.

Meanwhile the parent company’s merger with Digital World Acquisition Corp — a blank check company formed specifically to carry out a merger — has yet to take place, 10 months after the announcement that it would happen. This fusion is supposed to bring in fresh funding for the Trump platform.

DWAC published Thursday a call for a special shareholders meeting September 6 at which investors will be asked to approve a one-year delay for carrying out the merger, until Sept 8 of 2023.

Without a favorable vote for an extension the blank check company said it will be forced to dissolve.

Financial data published Thursday said that as of late June, DWAC had only $3,000 in cash on hand.

Truth Social bills itself as Trump’s answer to platforms like Twitter, which the former president used as a loud political bullhorn until he was ejected from it after a mob he had egged on assaulted the US Capitol in January 2021.

But six months later it is in 30th place in an Apple ranking of social media apps downloaded onto iPhones.

The Statista data base says Truth Social is downloaded only around 50,000 times per week.

Trump’s account on Truth Social has 3.91 million followers; on Twitter he had 79.5 million when he was booted.

Shares in DWAC have fallen 71 percent since hitting their peak in early March.

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Report Looks at the Most Commonly Shared Life Events on Instagram and TikTok

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Report Looks at the Most Commonly Shared Life Events on Instagram and TikTok

Social media is where people share their big life events and updates, in order to keep friends and family informed, and celebrate major milestones, changes, etc.

But what life events are people most likely to share in each app?

The team from Confused.com recently undertook a broader study of life trends, which also looked at the most popular life event postings on Instagram and TikTok, based on hashtag use, which could provide some valuable context for your content planning, and how to connect with the right audiences in each app.

First off, on Instagram – here are the top ten most shared life events within Instagram posts:

Those are all fairly logical, with the majority being celebratory events – though the variance in post volume for each is worth noting.

Based on this, a brand might want to consider marketing to new home buyers in the app, or post about new hires, or make it a bigger focus for campaigns based around these key life events.

On TikTok, the top 10 listing is similar, with some slight variances.

Life events report

‘Separation’ is much higher on TikTok (coming it at 11th on the list on IG), while ‘Marriage’ is not as high (23rd on TT). Not sure what that means – I would initially conclude that TikTok’s younger audience would result in less discussion of marriage, but separation is a key focus (as is divorce) so…

Maybe separated people are more likely to jump onto TikTok to find a new partner.

‘Gender reveal’ is also a bigger focus on TikTok (13th on IG), while ‘Death’ and ‘Funeral’ both make the top 10.

Some of these trends would relate to the variance in audience demographics, but it is interesting to note the differences, and how significant each topic is across the two apps.

Of course, for the most part, this research doesn’t reveal much that you didn’t already know – both apps are used for celebratory posts and major announcements, which includes all of the big life milestones and shifts.

But it is interesting to compare the popularity of each, and to consider how that could relate to your marketing and outreach, in line with usage.

You can read Confused.com’s full report here.

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