Rumble, a video-sharing platform flush with cash following a $400 million investment. Which is pressing towards its goal of becoming the YouTube for American conservatives. Despite criticism for allowing misinformation and conspiracy theories to spread.
Its monthly active user base increased to 80 million at the end of December. More than doubling the previous year, the business announced on Thursday.
Despite a net loss of $11.4 million, yearly revenues, primarily from advertising, quadrupled in the previous year to $39.3 million.
Rumble, located in Canada, has surpassed US social media rivals Parler and Gettr in its quest to establish itself as the go-to platform. Moreover for right-wing activists who claim they are “censored” by large tech firms for spreading misinformation.
Conservative financier Peter Thiel and Republican J.D. Vance, the newly elected US senator from Ohio, are among the supporters. Last year’s cash infusion arrived as Rumble went public with a $2 billion book value.
“It’s the only place to get true authenticity, period.” “You can’t get that anywhere else,” said the platform’s creator and CEO Chris Pavlovski following its earnings report.
However, critics claim that Rumble’s rise has come at an expense other than money.
Although it advertises itself as a “neutral” site, its limited content moderation allows conspiracy theories about Covid-19, the 2020 election, and other topics to flourish.
Rumble’s 2022 video “Died Suddenly” was watched nearly 18 million times. It was based on the debunked premise that Covid-19 vaccines caused numerous deaths. A video titled “2,000 Mules” that promoted false allegations of voter fraud in 2020 received over two million views.
Dominated by right wing supporters
Rumble, on the other hand, understands and serves its users. Following the news of Donald Trump’s indictment on March 30. The platform’s top results were dominated by supporters of the former president.
Donald Trump Jr., former White House aide Steve Bannon, and Infowars founder Alex Jones are among the high-profile commentators who have confronted bans or critical fact-checks on other platforms. Russell Brand, a comedian, shifted to Rumble after other platforms restricted his videos promoting Covid conspiracies and unproven cures.
The business has started a verification badge programme and insists that it is about more than just US politics. Rumble is expanding into live sports like skateboarding and UFC fighting. And it also includes animal and family-friendly videos.
However, “they are leaning into the story of cancel culture,” says Megan Squire, a Southern Poverty Law Center scholar who studies online extremism.
Despite its fast growth, Rumble remains relatively small compared with Google-owned YouTube. Which has an estimated more than two billion users worldwide.