return icon Vietnamnet.vn

Switch to paid news a must for Vietnamese journalism: editors-in-chief

The COVID-19 pandemic has cost many Vietnamese newspapers half their income, editors-in-chief said at a conference on Friday hosted by the Vietnam Journalists’ Association.

{keywords}
The interface of VietnamPlus's paid news site that launched on June 20, 2018. — VNA/VNS Photo 

The country’s print newspapers have faced an unprecedented loss in revenue, mostly from advertising as companies are forced to cut expenses amid and post COVID-19. Online news outlets have witnessed an increased readership yet their incomes reportedly have remained unchanged.

“Many newsrooms have had to suspend, reduce royalties, cut costs and even dismiss workers,” said Luu Quang Dinh, editor-in-chief of Nông thôn Ngày nay (Countryside Today) newspaper.

The total revenue of Vietnamese journalism including newspaper, radio and television outlets in 2019 was only VND16 trillion (US$686 million), equivalent to the advertising revenue of online platforms including Facebook or Google in Vietnam, according to Luu Dinh Phuc, head of the Authority of Broadcasting and Electronic Information under the Ministry of Information and Communications (MIC).

“Over the past 10 years, international online platforms have pocketed nearly 50 per cent of the advertising market share. The loss of revenue will lead to a drop in content quality and influence of traditional communication channels,” said Phuc.

“The need to make ends meet will push journalism away from its core principles,” he added.

Diversifying revenue streams and applying paywalls are two possible solutions to tackle the financial problems Vietnamese newspapers face.

“It will be risky if newspapers depend solely on a certain income. There should be new policies to support and invest to ensure the efficient operation of the State’s essential communication tools; heads of press agencies also need to change their mindsets and update new approaches to move their agencies forward,” said Phuc.

Le Xuan Son, editor-in-chief of Tiền phong (Vanguard) newspaper, said responsible ministries and State agencies should come up with solutions to direct part of the advertising market share of foreign online social networks to domestic agencies and encourage or force mobile network operators to share part of the revenue from internet services with online news outlets.

Pham Anh Tuan, editor-in-chief of online newspaper VietnamNet, said in the world of fake news, readers will have to get used to paying for news to access to quality information and content.

Instead of producing clickbait, newsrooms should focus on providing subscription packages and at the same time, raise the bar for article quality, Tuan said.

In the transition to paid media, newsrooms would have to pay close attention to copyright issues, Phuc added.

On June 20, 2018, VietnamPlus under Vietnam News Agency became the country’s first online newspaper to charge fees for articles.

Only five to 10 articles of 200 VietnamPlus’s daily releases are paid content, including exclusive interviews and analyses. Readers can pay per article at VND5,000 (US$0.21) each or pay for access for a week for VND10,000, 30 days for VND30,000 or 60 days for VND50,000.

“Although it is challenging to collect fees from readers in Vietnam, it is a must for newsrooms that want to change their revenue structures,” said Tran Tien Duan, editor-in-chief of VietnamPlus.

“First things first, they have to protect their copyrights over articles,” he added.

As AI can provide personally curated news, voice assistants can become new portals to access media and blockchain can offer new forms of payment and verification, Vietnam’s journalism could ride the emerging wave of technological innovations and create attractive products and sustainably develop, said Phuc.  VNS

Journalists must embrace technology or risk being replaced: Minister

Journalists must embrace technology or risk being replaced: Minister

Vietnamese media could be falling behind the relentless march of technological development and need to catch up soon, said Information and Communications Minister Nguyen Manh Hung.

Vietnam rejects report of Committee to Protect Journalists

Vietnam rejects report of Committee to Protect Journalists

Vietnam absolutely rejects false contents, which are based on inaccurate and biased information about Vietnam, of a report released by the Committee to Protect Journalists (CPJ), the Foreign Ministry’s spokeswoman Le Thi Thu Hang has said.  

MORE NEWS

Vietnam’s GDP rises by 13.67% in third quarter: statistics office

Vietnam’s gross domestic product (GDP) grew by 13.67% in the third quarter, according to the General Statistics Office (GSO).

Ministry of Culture demands strict supervision of beauty contests

Culture, Sports, and Tourism Minister Nguyen Van Hung has signed a directive strengthening state supervision of a variety of cultural and artistic activities, including beauty pageants and modelling contests.

VIETNAM BUSINESS NEWS SEPTEMBER 29

Vietnam to become “new Asian tiger”: Italian journal

Vietnam to become the worlds chip production center

In the first eight months of this year, phones and electronic components have the most prominent export turnover in our country, reaching nearly 40 billion USD.

Currency stable amid fresh Fed hike

Despite the US Federal Reserve’s latest interest rate hike, the Vietnamese currency has seen only limited depreciation when compared to the currencies of its regional partners.

Typhoon Noru causes property losses to central Vietnam

Super typhoon Noru weakened into a tropical depression after entering the central region of Vietnam Tuesday night, damaging houses and uprooting trees.

Vietnam among world’s best performers in digital banking: Official

Vietnam is among the world’s best performers in digital banking, with around 15 trillion VND in total poured into digital transformation, said Le Anh Dung, Deputy Director of the State Bank of Vietnam’s Payment Department.

Vietnam to eliminate dog-transmitted rabies deaths by 2030

Vietnam needs to adopt lessons learned and work closely with local governments to ensure fewer deaths from rabies.

Huge profits expected from industrial real estate sector

Many businesspeople are pouring money into industrial real estate projects amid Vietnam’s macroeconomic stability and its position as a favorite destination for foreign investors.

3.8 million hectares of rice will be under open plan, not fixed: minister

Vietnam’s agriculture is experiencing a restructuring in order to increase seafood and fruit production, and to decrease rice production.

Interest subsidy package and tourism development receive VND18.5 trillion

The prime minister has decided to provide extra funding to the tourism development fund and the preferential credit package access to soft loans with an interest rate discount of two percentage points.

State Bank of Vietnam drains VND57.6 trillion from market

The State Bank of Vietnam (SBV) withdrew a net amount of VND57.6 trillion from the market to keep liquidity in the banking system scantly sufficient, which is an apparent move to buoy interest rates.

Vietnam grosses US$77 billion from phone, component, and electronic exports

Vietnam raked in approximately US$77 billion from the export of phones, components and computers, electronic products and spare parts during the opening eight months of the year, according to the Ministry of Industry and Trade.

Vietnam invests nearly US$400 million abroad over nine-month period

Vietnam’s new and adjusted investment capital overseas during the initial nine months of the year reached nearly US$398.3 million, according to details given by the Ministry of Planning and Investment.

PM calls on Warburg Pincus to increase investments in Vietnam

Prime Minister Pham Minh Chinh on September 28 suggested the US-based global growth investor Warburg Pincus to further its effective coordination with Vietnamese agencies to increase long-term and sustainable investment in the Southeast Asian nation.
back_to_top