Executives at Trump Media & Technology Group, the publicly traded company co-founded by President Donald Trump, face mounting pressure as traffic to its Truth Social platform has declined sharply this summer, deepening concerns about the sustainability of a business that went public via a SPAC merger last year and has yet to establish a reliable revenue base.

According to a report by the New York Times, monthly visitors to Truth Social fell approximately 36 percent year-over-year, citing data from the online traffic analytics firm Similarweb. The decline was even steeper in June compared to the same month the prior year. Meanwhile, larger competitors including X and Threads reported higher visitor numbers over the same period, underscoring the persistent challenge facing smaller, ideology-focused platforms that must compete for attention against mainstream networks with vastly larger user bases and engineering resources.

Similarweb's data illustrates the downturn in detail. For the first seven months of 2025, Truth Social averaged 28 million monthly visits. During the same period in 2026, that figure dropped to an average of 25 million monthly visits.

Howard Polskin, publisher of "theRighting," a newsletter that monitors right-wing media, told the Times he was taken aback by the severity of the drop. "I have been following traffic to Truth Social for years and I am really struck by the steepness of the plunge," Polskin said. "When you think of how much Trump uses Truth Social as a megaphone you would think the numbers would be skyrocketing."

The traffic decline coincides with a difficult moment for Trump Media. The company is scheduled to hold its first earnings conference call with investors and analysts on Monday afternoon, following a first-quarter report showing a net loss of $406 million on just $871,000 in revenue, primarily generated through Truth Social advertising. The loss figure is driven in part by non-cash expenses tied to the company's public listing, but the near-absence of advertising revenue nonetheless highlights how far the platform remains from commercial viability relative to its multibillion-dollar market valuation.

Last month, Trump Media launched a controversial premium subscription service that provides Wall Street traders with instantaneous access to Trump's posts, a product marketed as offering subscribers a trading advantage. The service costs companies up to $100,000 per month, though only approximately ten firms have signed up so far, according to the report. The offering represents a notable pivot beyond advertising into data monetization, a model more commonly associated with financial-information providers than social networks.

Trump Media's stock has fallen approximately 80 percent since the company went public in March 2024. The company employs roughly three dozen people and has reported significant losses in every quarter since its public launch. The sustained financial difficulties led to the removal of chief executive Devin Nunes, a former House member from California who had been one of the president's most prominent defenders before leaving Congress to take the position.