In recent years, Vietnamese media agencies have undergone significant changes to adapt to global journalism trends and seize the opportunities brought about by the Fourth Industrial Revolution. The trend of multidimensional, multimedia, and multi-platform communication has emerged.
Currently, there are 6 major multimedia media agencies, 127 newspapers, and 673 magazines nationwide, along with 72 radio and television stations. Despite efforts to adapt, most media agencies face declining revenues, especially independent television stations and self-financed media outlets.
This challenge comes as social media platforms compete for advertising revenue and audience attention, while businesses continue to cut advertising budgets. To enhance professional activities, on May 2nd, the VTV Youth Union, in collaboration with the Central Committee of the Youth Union, Ho Chi Minh National Academy of Politics, the Vietnam Journalists Association, VOV, People's Daily Newspaper, VNA, and the Ministry of Public Security's Communication Department, organized the seminar "New Media Trends - Opportunities and Challenges" at VTV's Studio S7.
The seminar consists of 3 sessions focusing on the current situation of declining newspaper revenue; new trends in media journalism; and solutions to changing media trends.
The seminar comprises 3 sessions with numerous guests from media agencies and communications. (Photo: Phung Anh)
At the seminar, guests discussed and shared valuable insights into emerging media trends and the opportunities and challenges they present.
Currently, media outlets are experiencing unprecedented impacts on their revenue streams. Businesses are key clients and partners of media agencies, while the media serve as their protectors and allies in the media landscape. In addition to allocating resources for advertising, businesses are redirecting finances to alternative media platforms beyond traditional newspapers, including social media.
Businesses now allocate part of their communication development budgets to social media and digital platforms. They expect more effective collaboration,which requires a shift in media outlets' approach to social media engagement.
Attendees at the seminar "New Media Trends - Opportunities and Challenges" (Photo: Phung Anh)
Nowadays, most online newspapers have channels on platforms like Facebook, YouTube, or even TikTok, Zalo... to serve specific readers or to reach new users. Mastering these digital platforms not only helps newspapers gain more readers and increase brand presence but also promises to generate new revenues through advertising activities.
Beyond simply posting journalistic works on social media and apps, some major media outlets have dedicated strategies to develop digital content. They see this as the primary direction for development and invest in a focused manner and with efficient staff.
Digital transformation doesn't start with technology but with a change of mindset, especially among leaders. In a media organization, if leaders have a digital transformation mindset and are committed to it, the success rate is already 60%. When this mindset spreads throughout the newsroom, successful digital transformation is possible.
In journalism, digital transformation doesn't discriminate between big and small newspapers. A small newspaper with an effective digital transformation strategy that retains a loyal readership and maintains content quality, has a better chance of successful transformation than a large newspaper without the right strategy.
