KOLs

Draft advertising law: KOLs must be transparent when livestreaming

In most cases reported recently, KOLs have been fined VND7.5 million for their deviant behaviors and statements on social networks. Some artists who gave wrong information when advertising drugs were required only to say ‘I am sorry’ to continue to stay in showbiz. 

Vo Quoc Hung from Tonkin Media said that punishment of KOLs for their deviant statements or wrong advertisements on social networks is just a ‘slap on the wrist’. The fine of VND7.5 million is nothing compared with their huge monthly incomes.

KOLs with deep professional knowledge (well-known doctors, educators, etc) can receive VND40-60 million for one video clip advertising products and assessing medicine quality. A B-class (medium level reputation) artist can receive up to hundreds of million of dong, and an A-class up to billions of dong.

Buzy Agency CEO Nguyen Duy Vy said the current punishments are too light  compared with KOLs’ average income. B-class KOLs earn VND20-100 million a month depending on their fame and numbers of followers, while more famous KOLs can earn VND300 million.

Some KOLs have higher incomes from exclusive ad contracts. Each ad can bring VND45-50 million.

Vy said that to effectively control KOLs, many solutions need to be applied at the same time. It is necessary to raise sanction levels for deviant speech and moral violations in cyberspace. The fines should be set proportionally with KOLs’ incomes so that KOLs can clearly feel the financial impact if they break the law.

In addition to administrative fines, it is necessary to apply other types of sanctions. For example, KOLs must be suspended for a certain period. They would not be allowed to carry out advertisement activities, or would be prohibited from appearing on social networks for a definite time. The solutions, to have direct impact on KOL’s work and fame, are expected to be more effective.

There must be clear regulations about deviant speech and unreasonable behaviors. It would be better if agencies requested KOLs to attend short-term training courses about their responsibility when making speeches in cyberspace, thus helping them understand their role and responsibility in protecting national culture and the community.

Meanwhile, publicizing the list of KOLs violating regulations will put pressure on KOLs and force them to be more cautious when making statements or advertising products.

Also, agencies need to cooperate with social network platforms to keep close watch over KOL activities.

Le My