Vietnam's digital media market: Opportunities and innovative models

In the field of communication, digital communication develops in parallel with the digital transformation process, creating many new and diverse trends but also many challenges.

Popular digital media platforms

Technology infrastructure in Vietnam has made significant progress. With the development of 4G network and the deployment of 5G network, Internet speed and connectivity have been significantly improved. The birth and popularity of 4G network has brought many benefits in terms of speed and Internet access for users.

With the development of technology infrastructure and the Internet, digital communication services in Vietnam have had the conditions to develop strongly. Illustration: Pham Hai

In particular, the deployment of 5G networks, although still in its early stages, has already created breakthroughs in connection speed, low latency and the ability to connect a wide range of smart devices. This will create great opportunities for high-tech applications such as the Internet of Things (IoT), virtual reality (VR) and augmented reality (AR).

With the development of technology infrastructure and the Internet, digital media services in Vietnam have had the conditions to develop strongly. From social networking platforms, online video streaming services, to mobile applications. This development will certainly create economic benefits, contribute to improving the quality of life of people, strengthen social connections and promote creativity in many different fields.

Each media platform has its own advantages and meets the needs of many specific target groups. In particular, young people are the most interactive participants on digital media channels, especially social networks. Social networks are almost the main channel for students to update information.

Also according to statistics in the annual report on social media trends published by Meltwater and We Are Social, in Vietnam, as of early 2024, up to 73.3% of the population used social networks. Social media platforms such as Facebook, Youtube, Zalo and Tiktok lead in popularity. Of which, the Facebook platform had about 72.70 million users in Vietnam in early 2024. This number is 67.72 million users aged 18 and over with the Tiktok platform, 63 million with the Youtube platform and 10.9 million users with the Instagram platform.

Digital content and consumption trends

The strong development of technology infrastructure and the Internet has also led to the popular development of digital content. According to taste, users also prefer richer and more diverse content; from news, entertainment to education and branding.

The need for quick and constant updates has made digital news platforms more popular.

Digital content is dominating in various forms such as movies, music, video games and online TV shows. Not only that, digital educational content also needs to be mentioned. Online courses, video tutorials and digital learning materials on many platforms have opened up many learning opportunities for all ages. Diverse, quality and accessible learning content also helps viewers save time, costs and flexibility in acquiring new knowledge.

Short videos are all over media platforms. The rise of short videos and live streaming has created a new consumption trend. Users can easily create and share short videos on platforms like TikTok, Instagram Reels and YouTube Shorts. At the same time, live streaming events such as sales livestreams, online music events and live chats have become an important part of Vietnamese people's digital life.

Opportunities for digital media market development

Development of new technologies: New technologies such as AI, Blockchain, AI and virtual reality (VR) are widely applied in the digital media field and will continue to develop, opening up many opportunities in the future. They can create new and unique user experiences, attracting the attention of the target audience.

Growing Market: With a young population and high Internet penetration, the digital media market in Vietnam has great potential for growth. Businesses can tap into this market by creating digital products and services that meet consumer needs.

Government support: The Vietnamese government has had policies to support the development of the digital economy, creating favorable conditions for digital media businesses to operate and develop.

In September 2019, the Politburo issued Resolution No. 52-NQ/TW on a number of guidelines and policies to proactively participate in the Fourth Industrial Revolution. On June 3, 2020, the Government issued Decision No. 749/QD-TTg approving the "National Digital Transformation Program to 2025, with a vision to 2030" aiming at the dual goal of developing a digital government, digital economy, digital society, and forming Vietnamese digital technology enterprises with global competitiveness.

In particular, the 13th Party Congress emphasized: "We must innovate development thinking, change the way of working and living, promote institutional reform, apply scientific and technological advances and innovation; drastically implement digital transformation, build a digital economy and digital society."

The Ministry of Information and Communications has also developed a digital transformation plan for the entire industry in the 2021-2025 period, including 5 project categories: Digital infrastructure, digital platform, data development, application - service and information security. The implementation of this plan is also a favorable condition to support the development of digital communications.

In Vietnam, by early 2024, up to 73.3% of the population will use social networks. Illustrative photo

Creative models in digital communication

Leveraging Artificial Intelligence (AI) and Machine Learning Technology:

Content Personalization : Use AI to analyze user data and deliver content tailored to individual preferences. This enhances user experience and increases engagement.

Automation in content production : AI can assist in content creation, from article writing, video editing to graphic design. AI tools like GPT-4 can automatically generate high-quality content with little human intervention.

Virtual Reality (VR) and Augmented Reality (AR):

Virtual Reality Experiences in News and Entertainment : Using VR to create immersive news and entertainment experiences that allow users to feel like they are on the scene.

AR Advertising : Integrate AR into advertising campaigns to create engaging interactive experiences, engage consumers, and improve advertising effectiveness.

Develop short video content and live stream across platforms:

Short video apps : Develop platforms similar to TikTok, focusing on educational, news and entertainment content. Short video content is easily accessible and attracts the attention of young people.

Multi-platform live streaming : Integrates live streaming features on social media platforms, allowing users to easily access information and interact directly with events and programs.

Blockchain Applications in Media:

Copyright Protection : Use blockchain to protect intellectual property and digital content copyright, ensuring transparency and fairness for creators.

Transparent Transactions : Applying blockchain in advertising and marketing to create transparent and trustworthy transactions, thereby building trust with consumers.

Developing an integrated communications platform:

Media Super App : Develop a super app that integrates multiple features such as news, entertainment, shopping, and social networking, allowing users to easily access and use multiple services from a single platform.

Digital ecosystem : Building a digital ecosystem that connects businesses, content creators and consumers, facilitating cooperation and development.

Digital media in Vietnam is in a period of strong development, with many opportunities and challenges intertwined. To maximize the potential of digital media, agencies, organizations and businesses need to grasp new trends, invest in technology, and focus on cybersecurity.

At the same time, there needs to be close cooperation between stakeholders, from the government, businesses to consumers, to build a healthy and sustainable digital media environment. In particular, this is also an opportunity for experts and media managers to research and develop, creating solutions to increase efficiency and best meet market needs./.

Source : https://vietnamnet.vn/thi-truong-truyen-thong-so-viet-nam-co-hoi-va-nhung-mo-hinh-sang-tao-2290650.html