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How Trump and Musk's social networks are changing the rules of the game

Truth Social and X are creating a new information reality

Nov 12, 2024 15:25 210

How Trump and Musk's social networks are changing the rules of the game  - 1

Donald Trump's Truth Social and “X” of Elon Musk (formerly Twitter) create a new information reality, offering an alternative view of events. Kazinform's own correspondent studied the characteristics of these platforms, their role in the formation of a new media environment and the challenges faced by their owners.

Ideological haven of Trump supporters

Truth Social emerged as a response to Trump's temporary ban on Twitter, Instagram and Facebook in 2021. A lot has changed since then. In October 2022, Elon Musk acquired the microblogging service Twitter and renamed it “X“, and Facebook rebranded to Meta. As a result, access to Trump's Twitter, Instagram and Facebook accounts was restored in 2022 and 2023, but the idea of alternative platforms had already taken root.

The election campaign contributed to the notoriety of Truth Social. This social network has become a platform for Trump supporters looking for an alternative to the traditional American media, which mostly criticizes the 47th president-elect of the United States.

The growing popularity of the platform has significantly affected its market value. In October, Trump Media & Technology Group, which owns Truth Social, was valued at more than $10 billion, and the company's stock has quadrupled in value since the end of September.

Truth Social offers users the ability to freely discuss topics without what its creators claim is politically motivated censorship. However, its limited technical capabilities and small reach cast doubt on its potential to compete against tech giants like Meta or Tik-Tok.

Although Truth Social declined to share the number of users, it is estimated that the social network had about 5 million monthly active visitors in February 2024. Competing social networks TikTok and Facebook have approximately 1 billion and 3 billion monthly users, respectively.

On his platform, Truth Social, with just over 8 million followers, Trump interacts with far fewer people than on TikTok, Instagram and “X“, where he has 14.4 million, 29 million and 94 million, respectively. followers.

Elon Musk, after acquiring Twitter and renaming it "X", has announced a general amnesty for previously suspended accounts, some of which are said to belong to neo-Nazis or promote conspiracy theories. Trump's support and relaxed moderation policies, now less sensitive to controversial content, are said to have led to a boycott of “X“ by large corporations, depriving the platform of billions in advertising revenue.

The situation escalated so much that in August X filed an antitrust lawsuit against food giants Unilever and Mars, private healthcare company CVS Health and energy firm Orsted, as well as the World Federation of Advertisers, accusing them of creating barriers to the advertising market.

Challenges to political objectivity

Both Truth Social and X have become important hubs of the alternative media scene, attracting an audience that is skeptical of the objectivity of traditional media and values freedom of expression, even if it sometimes teeters on the edge.

Essentially, Trump and Musk are using these resources to influence public opinion by offering their interpretation of what is happening. This attracts those who want to express opinions, including controversial ones, feeling restricted on other platforms.

Such independence, however, carries its risks. Critics warn of the potential for misinformation and conspiracy theories to spread, which could negatively impact trust in the platforms.
Perspectives on Trump and Musk

's social platforms

The main challenge for Truth Social and X is developing a long-term strategy to attract users in the face of increasing competition. Despite the financial backing, Truth Social remains a niche project for now, and its success largely depends on its ability to attract the interest of advertisers who are wary of potential reputational risks due to the platform's political overtones.

For X, the priority is restoring the trust of advertisers and expanding the user base. Musk is experimenting with the platform, which can either strengthen his position or scare the public. In an international environment, the political views of X's senior management also raise questions, especially in countries with stricter content regulations.

In the American media space, platforms like Truth Social and “X” they play the role not just of communication channels, but of powerful tools for influencing public consciousness. However, such influence requires a delicate balance between freedom of speech and objectivity - something that is likely to be key to the sustainability and success of these platforms.

The news was published on the basis of an information exchange agreement between Fakti.bg and Kazinform