Vietnamese people run ads on social networking sites with tens of trillions of dong

DNHN - Some companies spend billions of dong per month on content creation and advertising on these platforms. It is an excellent opportunity for content creators.

Currently, in Vietnam, more than 60 million people use social networks as their primary means of communication and information search; therefore, this market is viewed as a fertile one that attracts a large influx of capital.

According to estimates, advertising on e-commerce and social networks has tripled since 2019 and now accounts for 60% of the total online advertising budget. Expenditures on this activity continue to rise in Vietnam.

Facebook, YouTube, and Tiktok earned more than $2.5 billion on the Vietnam market in 2022; by 2023, they are projected to earn $3.4 billion, which is equivalent to approximately 80,000 billion VND. Approximately 30 to 50 percent of this revenue will be split with content creators. Consequently, these platforms also generate hundreds of new jobs.

Currently, users' purchasing and spending decisions are also heavily influenced by social network information. 62% of users consider social networks a source of information before making a purchase. Consequently, the amount of money flowing into social networks is growing.

However, there is a substantial amount of money flowing into harmful content on social networks. Become a revenue source for bad actors who continue to produce content with negative effects on the economy and society.

PV