Trump-Affiliated Streaming Platform Reports Loss, Growing User Base -- WSJ

Dow Jones11-13

By Jasmine Li

Rumble, a streaming platform used by Donald Trump's campaign, posted a net loss of $31.5 million in the third quarter.

Billed as a "free-speech" alternative to YouTube or Twitch, Rumble has received funding from JD Vance, Vivek Ramaswamy and Peter Thiel. The company has signed paid content deals with conservative influencers such as Andrew Tate, Tulsi Gabbard and Steven Crowder.

Rumble's stock fell as much as 13% in after-hours trading. They recently traded about 8% lower. Shares are up more than 52% this year as of Tuesday's market close.

The company has only posted losses since it went public through a SPAC in January 2021. But its user base is growing-Rumble said Tuesday it recorded an average of 67 million monthly active users in the third quarter, up from 58 million a year ago.

Here's what else to know about Rumble:

-- President-elect Trump joined Rumble in June 2021 after being suspended from YouTube. He was active on Rumble during his campaign-he live-streamed rallies and posted ads on the platform.

-- Rumble and Trump Media in 2021 signed a "wide-ranging technology and cloud services agreement." Rumble also said it would operate part of Trump Media's Truth Social platform.

-- The company said it drew more than 1.7 million concurrent viewers on election night.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

November 12, 2024 17:00 ET (22:00 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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