“Embracing Digital Transformation: The Evolution of Press Business”

As part of the activities of the National Journalism Forum 2025, a discussion on “Revenue in the Digital Age: Beyond Advertising, Journalism Needs to Sell More” was held at the National Convention Center on June 20th.

The discussion was attended by Mr. Le Quoc Minh, Member of the Party Central Committee, Editor-in-Chief of Nhan Dan Newspaper, Vice Head of the Central Committee for Information and Education, and President of the Vietnam Journalists’ Association. The event also featured insights from various media managers, attracting a large number of journalists and business representatives.

Challenges in Traditional Business Models

With the advent of the digital age and its myriad changes in the market, along with technological advancements, media organizations are facing a very real question: How can journalism sustain itself financially?

Mr. Nguyen Van Ba, Editor-in-Chief of Vietnamnet, who chaired the discussion, posed a thought-provoking question: In an era where the speed of information distribution surpasses production capacity, journalism’s revenue streams cannot solely rely on advertising. The traditional economic model of journalism is facing fierce challenges due to technological advancements, shifting user behaviors, and a new media order.

Mr. Mai Ngoc Phuoc, Editor-in-Chief of Ho Chi Minh City Law Newspaper, shared that despite their print media origins, their primary source of revenue now comes from their online newspaper. Most of the organization’s income is generated from traditional advertising (via YouTube, Zalo), event organization, and collaborations with technology companies.

“Even though our revenue still comes from traditional advertising, we understand that innovation in technology and mindset is crucial to keep up with the new context and the increasingly stringent requirements of businesses,” said Mr. Phuoc. “However, upgrading technology also incurs significant costs. We are in a situation where we have to carefully allocate our resources to adapt to these changes.”

Ms. Nguyen Ngoc Diep, Deputy Editor-in-Chief of Vietnam Economic Times (VnEconomy), who has faced challenges in finding revenue streams for her publication, believes that journalism products are not lacking in buyers but rather in things to sell.

“Take a look at your newspaper’s interface, structure, and content. Are they up-to-date and meeting the demands of businesses?” she suggested. “If online newspapers want to thrive, they must continuously evolve to match the expectations of readers and the demands of the market.”

Therefore, it is essential to foster innovation in both journalism practices and revenue generation from journalism products. Derivative products from journalism can also be highly effective in generating income.

From the perspective of an intermediary unit specializing in providing media-business communication services, Ms. Phan Dang Tra My, Deputy General Director of VCCorp, asserted: “Journalism revenue is dwindling, not because of inferior content but because of an outdated value exploitation model.”

In reality, online advertising still commands the largest share of the market. However, according to Ms. Tra My, only 2.9% of this revenue is allocated to local journalism. This is because users are gravitating towards two-way communication platforms that offer interactivity with news content.

Meanwhile, businesses have shifted their advertising budgets to platforms that offer measurement, optimization, and stronger linkages with the customer journey.

Journalism should shape the buying behavior of businesses instead of merely enduring the pressure they exert on newsrooms. The transformation of journalism’s business model in the digital age is inevitable.

Ms. Phan Dang Tra My, Deputy General Director of VCCorp

“If we stick to traditional PR selling, we will be left behind and unable to grow,” she continued. “Instead, we need to listen to what products businesses can buy and what journalism can sell. More importantly, journalism should shape the buying behavior of businesses instead of merely enduring the pressure they exert on newsrooms. The transformation of journalism’s business model in the digital age is inevitable.”

Creativity in Product Development and Marketing

According to Ms. Tra My, there is an invisible pressure on both businesses and media organizations. The pressure from businesses is to obtain what they need, while the pressure on journalism is to advertise while maintaining the principles and core values of the newsroom.

“Journalism is not lacking in content to publish but rather in commercial products to sell to the market,” said Ms. Tra My. “Digital newsrooms should not just publish; they should actively set prices, position themselves, and define the values that journalism can transform into products.”

To adapt to the competitive demands of the digital age, journalism needs to shift its focus from selling advertising or posting news to a business model that meets market demands. This entails providing marketing solutions and building brands through integrated communications.

“With the advantage of quality content, media organizations should develop clear plans, package content appropriately, and define commercial product offerings to attract budgets from businesses,” Ms. Tra My added. “Journalism must set its own prices instead of letting businesses dictate them.”

Sharing a similar perspective, Mr. Tran Xuan Toan, Deputy Editor-in-Chief of Tuoi Tre Newspaper, revealed that while a portion of their revenue comes from periodically organizing events with businesses, they remain selective in their advertising choices, ensuring they align with the newspaper’s content.

“There have been contracts we didn’t sign to maintain our independence, critical perspective, and to prevent the newspaper from becoming dependent on businesses,” Mr. Toan disclosed.

According to Mr. Toan, finding new revenue streams for journalism is challenging. He emphasized: “Journalism must be sustained by payments from readers. There was a time when Tuoi Tre recorded nearly VND 1,000 billion in revenue per year, 55% of which came from circulation and readers, with advertising in second place. Although reader trends have shifted and print sales have declined, this remains a significant revenue stream for Tuoi Tre.”

Journalism must be sustained by payments from readers. To effectively implement a model that generates revenue from readers, there needs to be a collective effort and collaboration among journalism and media organizations.

Mr. Tran Xuan Toan, Deputy Editor-in-Chief of Tuoi Tre Newspaper

Tuoi Tre’s model is highly regarded for creating a special, paid version that offers enhanced reading experiences and exclusive features to its users.

“To effectively implement a model that generates revenue from readers, there needs to be a collective effort and collaboration among journalism and media organizations,” Mr. Toan added. “It is also crucial to address issues related to fake news and copyright infringement on digital platforms.”

Businesses Should Support Reputable Journalism

After listening to the discussion on journalism’s revenue streams in the digital age, Mr. Le Quoc Minh, Member of the Party Central Committee and Editor-in-Chief of Nhan Dan Newspaper, shared: “Media organizations need to develop multiple business models. We have relied heavily on advertising for a long time, but now it’s time to diversify, even though advertising remains an important source of income.”

“Businesses should support reputable journalism,” he emphasized. “If journalism struggles, businesses will also face disadvantages. Therefore, companies should allocate a portion of their advertising budget to journalism. Supporting reputable journalism means protecting your business.”

Taking the initiative to “nurture” reputable journalism in Vietnam is essential for maintaining the existence of these publications and ensuring that people have a reliable source of information about businesses.

Regarding user fees, Mr. Le Quoc Minh believes that, ultimately, revenue from readers is the most sustainable source of income. This can come from purchasing the newspaper, subscriptions, or membership fees. When a newspaper earns money from its readers, it gains their trust in the information it provides.

Businesses should support reputable journalism. If journalism struggles, businesses will also face disadvantages. Therefore, companies should allocate a portion of their advertising budget to journalism and support reputable journalism to protect their business.

Mr. Le Quoc Minh, Editor-in-Chief of Nhan Dan Newspaper

Additionally, protecting the copyright of information and images produced by media organizations has been a topic of discussion. With the powerful presence of artificial intelligence (AI), copyright infringement has become more prevalent. However, it is essential to consider multiple perspectives on this issue.

“If a media organization successfully protects its copyright but does not allow others to use its authoritative information to train AI, it may lead to uncontrollable problems,” explained Mr. Le Quoc Minh.

Furthermore, some media organizations, especially Party newspapers, can generate additional revenue from policy communication. However, this is not a matter of begging or pleading but depends on the suitability of certain media units in policy communication activities in each locality.

Finally, concluding the discussion and providing a satisfying answer to the question, “What can journalism sell besides advertising?” Mr. Nguyen Van Ba, Editor-in-Chief of Vietnamnet, summarized: “Beyond advertising, what journalism needs to ‘sell’ to readers and businesses is trust, derived from its core value of content.”