Advertising revenue is falling steadily and vertically.
According to the Ministry of Information and Communications, Vietnam has 64 local stations, 2 national stations, 5 television operating units, and 1 digital television station.
Currently, the economic activities of radio and television stations are facing many difficulties. Specifically, in the first 6 months of 2023, advertising revenue of television stations nationwide decreased by 30-50% compared to the same period last year. This decline also entails many consequences.
According to information from Viettel, short videos are becoming a popular content trend on social networks with a "huge" number of 97% of Internet users watching short videos.
The average time spent watching short videos on TikTok per day is 46 minutes. It is clear that traditional TV fans are increasingly shifting to watching on OTT platforms, YouTube and other social networks.
Traditional television’s main source of revenue depends mainly on advertising. However, with the change in viewing habits of users, this source of revenue is decreasing over time. Advertising seems to have shifted from traditional television to social networks, where short videos are attracting a lot of attention.
In the first 6 months of 2023, advertising revenue of television stations across the country decreased by 30 - 50% compared to the same period last year.
Referring to the current challenges, Mr. Pham Manh Hung - Deputy General Director of Voice of Vietnam (VOV) said that the competition between media agencies to attract readers and online advertising market share leads to great pressure to use advanced technology to provide the best user experience and increase advertising revenue. The cost of deploying and maintaining new technology systems puts great financial pressure on media agencies.
"Moreover, press management agencies have not yet issued policies for telecommunications businesses to support the costs of renting infrastructure and transmission lines for press agencies," said Mr. Pham Manh Hung.
Regarding human resources, Mr. Pham Manh Hung shared that currently, press agencies in general are lacking technology experts with skills and in-depth knowledge in the field of communication. The problem of training and adaptability of current employees to new technologies can slow down the transformation process and create difficulties in using resources effectively.
As the main press agency of Hanoi Capital, Hanoi Radio and Television Station (PTTH) is also in that challenging and difficult context. Mr. Nguyen Kim Trung - General Director - Editor-in-Chief of Hanoi Radio and Television Station said that in the 10 years from 2011 - 2021, the Station has lost a lot of listeners and listeners, no longer in the top 10 stations and TV channels with the highest ratings in Vietnam according to Kantar Media data. Advertising revenue has continuously decreased and since 2016 has fallen vertically.
The most important program genres in radio and television such as news, music, entertainment, sports, movies, etc. do not have any signature programs.
"The technical infrastructure of a radio and television station plays an important role, but in Hanoi, it is a system that can collapse at any time because it is patchy and old. Even today, the station's staff still use computers that use Windows 95 and have been in use for nearly 30 years," Mr. Nguyen Kim Trung stated the current situation.
Change or not exist
In that difficult and challenging context, Mr. Nguyen Kim Trung shared that since 2022, Hanoi Radio and Television Station has implemented a radical reform program in which the Party Committee, Editorial Board, and staff of the Station set a very specific goal of helping the Station escape the crisis, gradually develop and regain its position.
"Hanoi Radio and Television has put itself in a mindset of radical change, creating a huge pressure for innovation, which is the mindset of "Change or not exist", because the Station believes that if it only exists as an agency in the city's administrative system without real activities and public, then that is not the necessary existence of a traditional press agency like Radio and Television ", Mr. Nguyen Kim Trung emphasized.
The guiding principle in innovation, according to Mr. Nguyen Kim Trung, is to take the public as the target of content activities and technology as the driving force for change.
Mr. Nguyen Kim Trung said that in the coming period, there will be many difficulties and challenges ahead, but Hanoi Radio and Television Station will steadfastly follow its path in the thorny journey of innovation, which not only Hanoi Radio and Television Station but also many other press agencies are facing. (Photo: Son Hai)
"We carry out digital transformation in a substantial way and from the most basic activities, speeding up to form the structure of the capital's modern multimedia communications complex. Applying appropriate elements in modern corporate governance methods to the management of the unit's operations. In particular, patience and perseverance in facing problems that may arise during the innovation process are extremely important," said the General Director of Hanoi Radio and Television Station.
In 2023, after much effort and hard work by the staff of reporters, Hanoi Radio and Television Station has made important initial improvements. Program content is being innovated and quality is being improved to meet the needs of the public and propaganda requirements in the new situation. The press economy is being consolidated with total revenue in 2023 estimated to grow by 26% compared to 2022 and 53% compared to 2021.
By December 31, 2023, according to Kantar Media Vietnam's measurement results, in 2023, HANOI 1 channel returned to being one of the 10 most watched TV channels in the Hanoi area.
In the coming period, there are still many difficulties and challenges ahead. According to Mr. Nguyen Kim Trung, in order for press agencies in general and TV stations in particular to overcome difficulties and remain steadfast in their revolutionary journalism mission, in the coming time, it is necessary to promptly assess the actual results of the implementation of press planning and make timely adjustments to create a suitable corridor and development space for press agencies.
Policies to support the press in the current context need to be put into practice soon, especially legal policies related to ordering propaganda of political tasks for press agencies.
"We think the story of the Radio Station may have some common points with many other press agencies in the country. We think that sharing operational experiences and especially in the process of changing and adapting to the new situation between press agencies is extremely necessary.
"The attention of the Party and the State, the real attention of the governing bodies, along with the drastic actions of the press agencies themselves, we believe are the key and the most important condition for our press agencies to overcome difficulties and continue to contribute and serve the development of the country," said Mr. Nguyen Kim Trung.
Hoang Anh
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