Traffic to Trump’s Truth Social Falls Sharply This Summer

President Trump is a commanding presence on Truth Social, the platform he co-founded in 2022. But despite the fervent media attention that his policy pronouncements and personal attacks on the site attract, traffic to the social media platform has fallen sharply this summer.

Last month, the overall number of monthly visitors to Truth Social was down about 36 percent from a year ago, according to estimates by the online tracking firm Similarweb. Monthly visitors to the site fell by a slightly greater amount in June, compared with last year. By contrast, much bigger social media platforms such as X and Threads have posted higher numbers of visits this summer.

Similarweb, which is a widely cited provider of internet traffic analysis, found that for the first seven months of 2025, the average number of monthly visits to Truth Social was 28 million. For the same period this year, the number was 25 million.

“I have been following traffic to Truth Social for years, and I am really struck by the steepness of the plunge,” said Howard Polskin, who publishes a newsletter called theRighting, which tracks the right-wing news media. “When you think of how much Trump uses Truth Social as a megaphone you would think the numbers would be skyrocketing.”

A Truth Social spokesman declined to comment on the traffic numbers.

The traffic at Truth Social is slumping at a critical time for its parent company, Trump Media & Technology Group, which Mr. Trump co-founded. Since going public in March 2024, the company has reported losses every quarter, and it did so again on Monday.

Trump Media said in an earnings release that it had posted a net loss of $238.1 million in the second quarter, which ended on June 30. The company attributed much of the quarterly loss to a decline in the value of its substantial investment in cryptocurrency and other digital assets.

A little over a year ago, Trump Media invested more than $2 billion in Bitcoin, banking on an increase in the value of the cryptocurrency. But Bitcoin prices have tumbled over the past year, reducing the market value of the company’s investment. This year alone, Bitcoin is down more than 25 percent in value.

The second-quarter earnings did have one bright spot. The company said it had taken in $1.7 million in revenues in the period, an increase of 89 percent from a year earlier. Much of Trump Media’s revenues to date have come from advertising on Truth Social and related products.

Last month, the company rolled out a product to sell Wall Street traders instantaneous access to Mr. Trump’s posts on Truth Social in what was widely seen as a means to give subscribers an edge in buying and selling stocks and other widely traded assets. Trump Media, which has yet to produce much in the way of advertising revenue on Truth Social, is charging firms up to $100,000 a month for this instant look at Mr. Trump’s posts.

The new product has drawn controversy and concern that Mr. Trump is trying to generate revenues by monetizing his policy pronouncements and in the process boost Trump Media’s sagging stock price. Some Democrats on Capitol Hill have said the sale of early access poses a conflict of interest and gives traders willing to pay for it an unfair advantage in the nation’s stock, commodity and possibly prediction markets.

In a conference call on Monday, Kevin McGurn, the company’s interim chief executive, said Trump Media had signed up more than 10 customers, mostly trading firms, for the fast feed of the Truth Social posts. But he said the company was also having conversations with several new organizations.

Mr. McGurn said the criticism of the fast feed product was misplaced. He said customers were simply getting access to “publicly available posts” but “fractionally” faster than everyone else. He said this was a “well-established business practice.”

Trump Media is betting that more trading firms will want faster access to Truth Social given the ability of the president’s posts to move markets.

An analysis by Fundstrat, an investment research firm, suggests that Mr. Trump’s Truth Social posts have played a big role in market swings. The president’s statements on and off the platform coincided with both the five best and five worst days of the S&P 500 for the period since he returned to the White House, according to the analysis.

“We have never in history, going back to 1980, had a president that has had a hand in the stock market’s top five days and worst five days,” said Hardika Singh, an economic strategist at the firm. On four of those days, the market movements followed Mr. Trump’s Truth Social posts about the Iran war or tariffs.

Mr. Trump has no formal position with the company, but his eldest son, Donald Trump Jr., is a board member who also oversees a trust that controls the president’s nearly 115 million shares in Trump Media.

President Trump’s stake in the company is valued at roughly $1.1 billion based on Monday’s closing share price of $9.39. Shares of Trump Media, which has about three dozen employees, have fallen about 80 percent since the company went public.

In April, Trump Media ousted its chief executive, Devin Nunes, a former Republican congressman from California and replaced him on an interim basis with Mr. McGurn, a former Hulu executive who has been advising Trump Media since 2024.

Mr. McGurn has had a history of working with venture capital firms and entertainment and digital technology companies. At Hulu, he helped start the company’s ad-supported streaming business.

Over the past two years, Trump Media has announced a number of initiatives to change its fortunes, including a merger with TAE Technologies, a fusion power company. The companies have said they expect the deal, which could be a transformative one for Trump Media, to close this year.

In a news release on Friday, Mr. McGurn said the company’s focus was to “drive revenue across Truth Social” and “close the merger with TAE.” In announcing the company’s earnings on Monday, Mr. McGurn said investors “should expect more frequent communication from us on our progress each quarter.”

Niko Gallogly and Sharon LaFraniere contributed reporting.