As so many countries around the world, Vietnam is wrestling with the challenge of how to regulate the digital economy, in particular at the intersection of digital and traditional industry such as media and broadcasting. The Vietnamese government is working on a revision to Decree 06 on the management, provision and use of radio and television services that will cover Over-the-top (OTT) services such as Video-on-Demand (VOD) and other online streaming platforms.
This was the topic of discussion at the workshop for “Digital transformation in the fields of broadcasting and digital content services: International practices and recommendations for Vietnam’s regulatory development” organised by the Institute for Policy Studies and Media Development and co-hosted by Vietnam Digital Communications Association (VDCA) & the US-ASEAN Business Council in Hanoi on May 14, 2019.
AlphaBeta Engagement Manager Dr Konstantin Matthies joint experts and stakeholders from OTT, ICT, media and broadcasting industry; regulators and ministry delegates to present on and discuss the VOD opportunity in Vietnam and best practices of crafting conducive regulations that will allow Vietnam to maximise the economic benefits. A healthy and growing VOD sector directly supports the objectives of Vietnam’s “Strategy to Develop Vietnamese Film Industry to 2020: Vision 2030”. AlphaBeta’s presentation focussed at alternatives to the measures proposed in Decree 06 that can safeguard Vietnam’s national interests on local content consumption and productions as well as content safety, while not putting these benefits at risk.
VOD services pose a large opportunity for local content production in Asia with annual investment in local content expected to grow by 3.7x to US$10.1 billion from 2017 to 2022. This is on the back of strong demand by Asian consumers for local stories as well as content from neighbouring Asian countries. At the same time, content production is becoming globalized, changing the notion of what constitutes local content, and allowing for specialization across the production value chain. Governments can support this growth industry by focussing on investment incentives, supportive regulation and availability of high-quality skills and technology.
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