Union Minister of State for Electronics and Information Technology and Minister of State for Skill Development and entrepreneurship Rajeev Chandrasekhar said there are certain issues in the way the internet has evolved where the ad tech platforms are controlling more and more digital advertising revenues and monetisation revenues.
Sharing his concerns during his special address at the e4m-DNPA Future of Digital Media Conference & Awards on Friday, the minister said there are many concerns about digital publishing news agencies and about the overall digital economy, the economics of digital content whether that is news or entertainment. He said this has led to a deep imbalance disrupting the whole dynamic of content creation and content monetisation.
“It leaves the small guy at a disadvantage which is not really the right thing for a country like India where we potentially have hundreds and thousands of content creators,” Chandrasekhar said.
He added that it is clear that at some inflection point, the consumption of news in particular and content in general will swing sharply to the internet.
He added that as millions of consumers use the internet and consumer products and services, it is time accountability to the consumer is also something that needs to be built and legislated.
“For many decades, regulation and law-making or government and societal scrutiny and oversight about digital platforms lagged innovation because it was seen that these were all innovation platforms and they do not represent any threat or criminality,” he said in his virtual address.
With digital media and digital brands proliferating, we have seen that those old values of media have been challenged or put to test, he added.
“The Covid pandemic has seen one big jump in the consumption pattern of consumers and this disruption will be the regular norms for all things digital like we saw with the introduction of the ChatGPT,” the minister said.
Supporting his ideas, Apurva Chandra, I&B Secretary, Government of India, said the digital platforms should get a fair share of the revenue from the big tech platforms.
The first-ever digital media conference, which was held in Delhi, focused on the future of digital media in India and discussed how digital media businesses are trying to figure out business models to navigate a complex future.
Chandra highlighting the negative impact on the traditional news industry said the trend if it continues, can also impact the future of journalism. “This is a question of journalism and credible content as well,” Chandra said.
Various panel discussions were held, which deliberated on issues like Digital India and Digital Media: A Partnership for Building a Connected Nations, Digital Media and its Social Impact.
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