Kinhtedothi - 50% of media revenue "flows" into cross-border platforms and social networks, causing Vietnamese media agencies to face many difficulties due to lack of revenue and decline in readers.
Digital transformation determines the survival of the modern media industry!
Within the framework of the 16th ASEAN Ministers of Information Meeting (16th AMRI) taking place in Da Nang, on September 21, delegates discussed related issues at the workshop "ASEAN digital transformation of journalism - creating digital knowledge".
Newspapers, radio and television are sectors that are being heavily impacted by the digital technology boom as traditional media activities are gradually losing market share and revenue to cross-border platforms. Therefore, digital transformation has become an inevitable trend.
Delegates discussed at the workshop.
In that context, it is necessary for ASEAN countries to share experiences and understanding of strategies and good practices in promoting and orienting domestic press and media agencies to transform digitally in a sustainable manner.
Digital transformation of media is an inevitable trend, aiming to enhance the media capacity of the press in attracting viewership from social networking platforms, protecting traditional values along with modernizing journalism and media.
Digital transformation in communication is essentially the application of increasingly modern technology to journalism activities, enriching the digital media ecosystem with new, superior features, helping to improve the quality and effectiveness of communication to information consumers.
With that aim, at the initiative of Vietnam, for the first time ASEAN member countries shared and discussed the topic of digital transformation in communications. The workshop aimed to create an open exchange platform to share the situation, policy-making process and best practices for digital transformation in communications. This will be the foundation for further discussion, proposing initiatives and cooperation priorities in the coming time.
At the workshop, delegates shared and discussed issues such as: policies and solutions of the State in supporting and promoting digital transformation of press and media in each country; developing and promoting digital platforms for press and media; viewpoints and sharing stories about protecting press copyright on digital platforms... In addition, they introduced good practices, successful models of digital transformation of press and media, and experiences from press agencies in Vietnam and ASEAN countries.
Speaking at the workshop, Deputy Minister of Information and Communications Nguyen Thanh Lam affirmed that digital transformation determines the survival of the modern media industry.
Deputy Minister of Information and Communications Nguyen Thanh Lam affirmed that digital transformation determines the survival of the modern media industry.
According to Mr. Lam, people's information access habits have changed dramatically in the digital transformation era. Along with that are changes in the way information is presented, market share, advertising, business models and intellectual property issues.
“The management agency has seen the difficulties of the press agencies and also seen the determination of the media and businesses to digitally transform. The authorities will have ways to support the media agencies in digital transformation,” said Deputy Minister Nguyen Thanh Lam.
Half of media revenue flows into social networks
Director of the Press Department Luu Dinh Phuc pointed out the difficult situation due to competition from social networks that Vietnamese media agencies are facing.
According to Mr. Phuc, of the $4 billion in media revenue, about 50% “flows” into cross-border platforms and social networks. This is causing Vietnamese media agencies to face many difficulties due to competition from cross-border platforms, leading to a lack of revenue and a decline in readers.
According to Mr. Phuc, in the face of the above situation, the Government has given directions for digital transformation of the press to help increase resilience and adaptability in the new context. At the same time, it directs cross-border advertising flows to domestic information platforms, uses the press to create social consensus, and builds a knowledge-based economy based on press information.
Vietnam Television representative shared at the conference.
Sharing at the workshop, a representative of Vietnam Television (VTV) said that after a period of active digital transformation, the VTV Go application has attracted a large number of users. In the near future, VTV plans to deeply integrate the application into smart TVs to increase user attraction.
K+ TV channel CEO Thomas Jayet said that online copyright infringement is quite common in the ASEAN region, with 80% of violations occurring on digital platforms. Copyright infringement not only damages the creative industry but also negatively impacts the national economy. In Vietnam, this problem caused a loss of 348 million USD to the media and content industry in 2022.
Meanwhile, a representative of the Thai Ministry of Information and Public Relations said that users' information reception behavior is changing. People are increasingly receiving information on international platforms. On average, each person spends more than 8 hours a day using handheld devices to access information. For example, Thailand currently has more than 19 million people following news on Facebook.
Recognizing the importance of information in development, since 2015, Thailand has initiated a sustainable digital development platform with the participation of the government. The government guides people to access information platforms that serve the interests of the people.
It can be said that the competitive pressure from social networks that media agencies are facing is huge in this 4.0 era. Therefore, digital transformation determines the survival of the modern media industry.
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