return icon

Legal move towards fair competition in pay TV market

A new decree on the use and management of broadcasting services aims to create an impartial playground between domestic and foreign pay TV service providers.

Decree No.71/2022/ND-CP amending and supplementing Decree No.06/2016/ND-CP on the use and management of broadcasting services aims to create an impartial playground between domestic and foreign pay TV service providers.

The latest report released by the Authority of Broadcasting and Electronic Information has showcased saturation signs of traditional television broadcasting services as both subscribers and revenue figures stalled. Meanwhile, internet-based television transmission services (OTT TV) have immense space for growth.

The revenue from pay television is estimated at around $404.3 million in 2022, slightly inching up compared to $400 million in 2021 while the sum from OTT TV services in the domestic market is expected to touch $32.1 million, showing a sharp jump compared to around $8.7 million last year.

Legal move towards fair competition in pay TV market
Vietnam's pay television revenue is estimated at around $404.3 million in 2022

Newly-released governmental Decree No.71/2022/ND-CP, slated to come into force in January 2023, mandates equal treatment between domestic and foreign firms, meaning that transboundary platforms providing OTT TV services shall be licensed and operating as local ones.

Deputy Minister of Information and Communications Nguyen Thanh Lam noted that the move aims to create an impartial playground between domestic and foreign players and eliminate the bias that the management agencies are protecting foreign OTT TV service providers due to lacking a compatible legal framework for their management.

Vietnam is currently home to 38 firms licensed to provide pay television services, one more firm compared to 2021.

Vo Thanh Hai, director of Viettel Media, said that local OTT TV service providers would face mounting pressure from foreign counterparts, yet it also brings opportunities as the copyright demand for Vietnamese content is huge and foreign counterparts willingly pay for quality content.

“In the next few years, foreign OTT TV platforms would inject into producing Vietnamese firms right in the country, like what they have been doing in other countries like South Korea and China. Viettel Media might consider selling content to foreign OTT TV providers which are interested in such deals. This creates opportunities for our producers,” he added.

Luong Quoc Huy, deputy general director of cable television firm SCTV, proposed the government pen out a radical pay television market development plan which consists of regulations to avoid service monopoly in order to control the market, preventing product sale at dump price.

Vietnam is currently home to 38 firms licensed to provide pay television services, one more firm compared to 2021.

Besides these firms, the local pay TV market has the participation of foreign OTT TV service providers such as Netflix, AppleTV, and WeTV, among others.

Currently, OTT TV accounts for 20 per cent of the market share with approximately 3.6 million subscribers, generating revenue of around $8.3 million that is eying a sharp growth potential.

A report from Akamai, a leading US-based content delivery network, shows that 36 million OTT TV users are based in Vietnam out of the 180 million in Southeast Asia and that the region's market would reach $54 billion by 2026.

Source: VIR


President wraps up State visit to RoK

President Nguyen Xuan Phuc and a high-ranking delegation of Vietnam arrived in Hanoi on December 7 morning, concluding a successful State visit to the Republic of Korea (RoK) at the invitation of President Yoon Suk-yeol.

Business safety in the digital age

Vietnamese businesses are facing challenges related to cyber security and difficulties adapting to digital transformation.

Tax refunds worth trillions of VND

Tax bodies are working on problems related to VAT refunds in order to help businesses get money to invest in operations, following a dialogue held last week.

Legal loopholes exist for trading forbidden goods

Many students believe that e-cigarettes are not toxic, but are fragrant and stylish.

Quang Ninh to develop night-time economy, awaken tourism

On July 27, 2010, the Prime Minister signed a decision approving Vietnam’s night-time economy development plan.

National Geographic Traveler explores Hanoi

Atmospheric night markets, historic temples, sleek cocktail bars, and an evolving culinary scene of Hanoi have conquered the heart of a journalist from the world-class travel magazine.

VN considering feasibility of North-South high-speed rail project

Minister of Transport Nguyen Van Thang proposed that World Bank (WB) help Vietnam find suitable partners for the country’s North-South high-speed rail project.

Apple adds Hoang Sa, Truong Sa islands to its map at the request of Vietnam

At the request of the Ministry of Information and Communications, Apple has corrected the mistake, adding Hoang Sa (Paracel) and Truong Sa (Spratly) Archipelagos to the map on the Apple Maps application.

Tax revenue from e-businesses below expectations

Tax revenues from e-commerce activities have risen over the years, but they are still far behind the industry’s expansion rate, the Ministry of Finance reported.

Vietnam hosts over 100 million domestic visitors, surpassing all forecasts

Domestic tourism is strongly bouncing back, recording more than 100 million visitors so far this year, higher than all forecasts and up 1.5 times compared to the yearly target of 60 million.

Voting begins for top 10 culture, sporting, and tourism events in 2022

Repatriating the Nguyen Dynasty’s imperial seal, the nation’s hosting SEA Games 31, and the reopening of international tourism as of March 15 are among the nominations for voting in the top 10 culture, sporting, and tourism events of the year.

National forum on development of digital enterprises due on Dec. 8

A national forum aimed at fostering greater development among local digital enterprises is scheduled to get underway on December 8 at the National Convention Centre in Hanoi.

Quang Ninh has new acting chairman

Standing Deputy Prime Minister Pham Binh Minh has signed a Decision No 1509/QĐ-TTg on December 2th 2022 to assign the acting chairman of People’s Committee of Quang Ninh to Cao Tuong Huy.

Vietnam to develop strategic infrastructure to lure more RoK investment: President

Vietnam will strongly develop its strategic infrastructure system to lure more investment from the Republic of Korea (RoK), President Nguyen Xuan Phuc told more than 500 enterprises attending the Vietnam-RoK Business Forum in Seoul on December 6.

Central bank to raise credit limit, banks slash interest rates

The State Bank of Vietnam has raised the domestic banking system’s credit growth by 1.5-2.0 percentage points from the previous 14% limit on December 5.