High-quality content is key to attracting and retaining readers.
“Paywall” is a wall that separates content from the public. If you want to read interesting, highly specialized or exclusive information... users have to pay a fee.
Most recently, CNN implemented a paywall requiring some users to pay $3.99 a month to access content, while Reuters announced it would launch a digital subscription package starting in October — joining a crowded market of news organizations charging for online content.
Commenting on the reader fee model, journalist Ngo Tran Thinh - Head of Digital Content Department, News Center, Ho Chi Minh City Television Station said that, like many other industries in the world, journalism also needs funding to maintain and develop a large apparatus. While there are many human resources, large investment and operating costs, and constant innovation every day to attract readers, reading newspapers for free is no longer suitable.
News organizations including CNN are looking to monetize digital media to offset the decline of television, which has historically been their main source of revenue.
According to journalist Ngo Tran Thinh, no different from print newspapers struggling to survive in the digital age, online newspapers, although having a source of income, are still unstable. Along with the support of smartphones or tablets, the development of online newspapers is certain, which in turn leads to the issue of charging users.
"But nothing is easy. If we want to charge readers, each product and article of the newspaper must be of real quality in all aspects such as: Topic, content, images, videos, layout... and maintain this quality," said journalist Ngo Tran Thinh.
According to journalist Vo Hung Thuat - Director of the Tuoi Tre Newspaper Media Center, in Vietnam, no press agency has dared to claim success with the fee-based model. The success of the New York Times and a number of major newspapers in the world is thanks to the harmonious and comprehensive combination of quality content, good service, cutting-edge technology and a modern business model.
High-quality content remains the core element to attract and retain readers. A business model that puts readers at the center by clearly understanding their needs and desires is a prerequisite for success. It is also important to know how to use technology as a tool to reach readers more effectively and personalize the experience.
From the issues raised and the successful lessons of a few newspapers, it can be seen that the vital issue for the press is to dare to give up the nostalgia of selling information, which has been proven to be impossible to succeed. Besides, it is necessary to boldly abandon the conventional mindset of selling newspapers.
"It is necessary to turn the entire agency into a high-quality content creation machine. At that time, it is necessary to determine that the core product of the press agency is high-quality content products. How to convey those content products to the public and customers will depend on that content as well as the goals of the producer and the strengths of each broadcasting channel," said journalist Vo Hung Thuat.
Is the information function of the press affected?
Journalist Nguyen Thu Ha - Deputy Director of the Center for Digital Content Production and Development (VTV Digital), Vietnam Television Station informed that in Vietnam, the revenue of press agencies is seriously decreasing, in 2023, the revenue of TV stations decreased by 40%.
In this context, many news organizations are trying to keep a portion of advertising revenue, regardless of concessions and sacrifices of journalistic principles in exchange for benefits for advertisers. The trend of finding ways to "sensationalize" information to attract viewers, or to mix advertising into content is relatively common. These changes, although sometimes commercially successful, can weaken the quality of journalism, affecting the objectivity and honesty of news.
Nothing is easy. If you want to charge readers, each product and article of the newspaper must be of real quality in all stages.
According to Ms. Ha, as advertising revenue declines, some newspapers and magazines have turned to subscription strategies to create a stable source of revenue. For newspaper and magazine brands in developed countries, long-term subscriptions are a valuable source of revenue because readers are high-end customers with brand loyalty. Revenue from this source of subscriptions is also more stable than revenue from advertising.
However, Ms. Ha believes that when the press only focuses on serving subscribers, their information can be biased, and exclude readers who cannot afford to buy information, which means it does not serve the common interests of the community. This subscription fee model is also exclusionary and therefore does not meet the criteria of press information as it is, affecting the functions of the press such as information, education and enlightenment.
Large-scale newspapers and magazines are also trying to turn to new business initiatives. Many newspapers are developing event organization services, livestreaming, e-commerce businesses, and establishing their own apps with diverse service ecosystems. These new business projects are mainly designed to diversify revenue sources and create new sources of income to compensate for declining advertising revenue. However, journalist Nguyen Thu Ha said that these strategies are only suitable for large press agencies, while small-scale press agencies find it very difficult to diversify revenue sources in this way.
Journalist Nguyen Thu Ha said that recently, many funding solutions for sustainable journalism activities for the benefit of the community have emerged, including models of assigning tasks and orders to press agencies, from state agencies, public organizations, development funds and non-profit organizations. Vietnamese press agencies are also actively promoting this source of revenue with the support of the Ministry of Information and Communications and the Ministry of Finance.
Agencies in charge of the press, including the Propaganda Department, the Ministry of Information and Communications, the Vietnam Journalists Association, in coordination with the Ministry of Finance, are making efforts to promote a media ordering mechanism for the press. This content is also proposed to be included in the revised Press Law to legalize this mechanism in order to create a stable source of revenue for the press in the future.
According to Deputy Minister of Information and Communications Nguyen Thanh Lam, the immediate goal for 2024 is that the process of ordering media from press agencies and organizations must be shortened, simplified and feasible, and at the same time, there must be specific instructions to help press agencies tap into this important source of revenue.
It can be seen that the serious decline in revenue in recent times has forced press agencies to adjust their professional activities and adapt to new social and technological needs to attract and find new sources of revenue.
Hoa Giang
Source: https://www.congluan.vn/de-tao-tuong-phi-can-mot-co-may-sang-tao-noidung-chat-luong-cao-post315898.html
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