Diversify revenue sources for press agencies

Updated date: 03/16/2024 11:30:02

DTO - Within the framework of the 2024 National Press Conference, at Rex Hotel (District 1, Ho Chi Minh City), a seminar on Diversifying revenue sources for press agencies took place. Attending the seminar were Deputy Minister of Information and Communications Nguyen Thanh Lam and representatives of leaders of central and local press agencies.

Deputy Minister of Information and Communications Nguyen Thanh Lam speaks at the seminar

Speaking at the seminar, Deputy Minister of Information and Communications Nguyen Thanh Lam shared that the concept of press revenue poses many challenges for press agencies today. In reality, if they only rely on and depend heavily on advertising, press agencies will always face the risk of declining revenue, in the context of businesses increasingly seeking advertising on social networking platforms such as Facebook, Google, etc. In addition, news sites and social networking sites intentionally taking selective content from press agencies also attract advertising revenue, making the economic "pie" for press agencies increasingly smaller. Faced with the trend of declining revenue, press agencies are still confused in thinking of solutions to overcome difficulties. This is partly the responsibility of the management agency in removing policy mechanisms that are not fast enough and not timely enough.

Journalist Le Thanh Tuan - Director of Vinh Long Radio and Television Station proposed: "In the coming time, the leaders of the Ministry of Information and Communications need to be flexible in not controlling the advertising time in the programs of television and press units to help attract revenue; allow users to charge fees through subscription payments. At the same time, exempt corporate income tax for press agencies...".

Proposing a long-term direction for the press economy, Mr. Nguyen Quang Dong - Director of the Institute for Policy Research and Media Development said that in the coming time, the Ministry of Information and Communications needs to propose to the Government leaders to provide more support for press agencies. In particular, exempting and reducing value added tax for all press products; simplifying administrative procedures with policy communication packages; facilitating the implementation of the task of controlling user interactions on social networking platforms. In the long-term direction, it is necessary to promote socialization to increase investment in technology and business capacity for press agencies; supporting press agencies to increase their presence and business cooperation with social networking platforms through the "bridge" role of the Ministry of Information and Communications...

Speakers share information at the panel discussion

At the seminar, the speakers shared information about the long-term direction for the journalism economy; efforts to diversify reader approaches; changes in the journalism market in the digital age. At the same time, they proposed a number of solutions for the journalism economy such as: digital transformation of journalism to comprehensively change editorial operations, create a multimedia-converged editorial office/journalism complex, conveniently connecting with readers; digital transformation associated with digital economic development, diversifying revenue sources, increasing the competitiveness of press agencies with cross-border platforms. Mechanisms for ordering journalism in policy communication to promote the journalism economy...

JAPAN

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