The Digital Content Creator’s Trade: Millions of Users on YouTube, TikTok Rake in Hundreds of Millions of Dongs Annually

“From the early days when the concept of ‘digital content creators’ did not exist, a decade later, it has evolved into a full-fledged industry, fostering a robust community in Vietnam. Digital creativity has reached a scale akin to a miniature society,” shared Le Quang Tu Do, Director of the Radio, Television and Electronic Information Department, at the Vietnam Digital Content Creators Forum 2024 (Vietnam iContent 2024), held recently in Ho Chi Minh City.

Looking back at the past ten years, the rapid growth of social media, particularly Facebook with its 20 million users in Vietnam (accounting for 22% of the population) starting in 2014, presented vast opportunities for content creators.

By 2019, TikTok’s official launch spurred a transformation with short-form vertical videos supplanting traditional ones.

From the platform owners’ perspective, Phuong Huynh, Strategic Partner Manager for YouTube in Vietnam, shared that 2024 marks a decade of YouTube’s presence in the country.

She revealed that YouTube Vietnam now boasts over six channels with more than ten million subscribers, and over 1,800 channels with a million followers each. Impressively, more than 30% of these YouTube creators earn an annual income exceeding 100 million VND.

Meanwhile, TikTok has also witnessed substantial growth. Nguyen Lam Thanh, General Director of TikTok Vietnam, stated that 3.7 million user accounts have generated income from the platform, attesting to the robust development of creators and the platform in Vietnam.

From a business standpoint, Nguyen Minh Dinh Nhu, Growth Director of Publicis Media under the Publicis Groupe, noted that content creators help brands increase engagement rates by 2.5 times compared to traditional advertising, especially among younger demographics.

A report from TikTok in 2024 indicated that conversion rates from effective videos were twice as high as content posted by the brands themselves.

“The period between 2019 and 2023 witnessed the explosive popularity of TikTok in Vietnam, with over four million content creators joining, driving a significant increase in brands’ marketing budgets from 20% in 2023 to 30% in 2024,” emphasized Nguyen Minh Dinh Nhu.

Speaking from an enterprise perspective, Le Thi Tram Anh, Head of Vinamilk’s Communications Department, shared her insights: “In the digital age, creativity is not just about generating unique content but also about how brands can sustain long-term relationships with consumers through digital platforms.”

Despite its robust development, the period between 2020 and 2023 witnessed a proliferation of negative content on social media, raising concerns about social norms and values. However, by 2024, the content creation industry stabilized, marked by collaboration among platforms, creators, and regulatory bodies to foster positive and wholesome content.

Le Thi Hong Nhi, Vice President of Unilever Vietnam, underscored the importance of brand safety on social media, a constant concern for businesses with hundreds of brands operating across multiple platforms.

Creating positive and wholesome content not only aids business growth but also safeguards brand image, especially with the rise of short-form videos. Unilever also focuses on developing inspirational campaigns in rural areas, raising awareness about health and environmental protection.

Addressing these concerns, Le Quang Tu Do, Director of the Radio, Television and Electronic Information Department, affirmed that the recently enacted Decree 147 by the government marks a turning point in enhancing the management of cyberspace, featuring several notable provisions:

Firstly, cross-border platforms like Facebook, Google, and TikTok must register their operations with the Ministry of Information and Communications if they do not have a representative office in Vietnam.

Secondly, platforms and users are held accountable for unhealthy content. The authorities will mandate the discontinuation of collaboration with content creators who violate regulations.

Thirdly, forthcoming amendments to the Advertising Law will include stringent provisions requiring a clear distinction between advertisers and product reviewers. Additionally, those receiving advertisements must disclose content with promotional elements or affix promotional labels to products on social media platforms.