VIETNAM TELEVISION (ĐÀI TRUYỀN HÌNH VIỆT NAM – VTV): A Massive State Media Machine With Declining Revenue and Waning Influence

Once seen as the uncontested voice of the Vietnamese state, VIETNAM TELEVISION (VTV) today stands as a paradox of size and diminishing market relevance. Registered under tax code 0101567589, this state-owned broadcaster remains a financial giant with USD 864.57 million in total assets and an expansive workforce of 4,000 employees, headquartered at No. 43, Nguyen Chi Thanh Street, Ngoc Khanh Ward, Ba Dinh District, Ha Noi City, Vietnam. But behind the official gloss lies a worrying reality—plummeting revenue, shrinking profit, and a growing disconnect from its intended audience.

The network, led by General Director Mr. Tran B. M., is fully owned by the Government of the Socialist Republic of Vietnam. Its operations revolve around motion picture, video, and television programme production, and it is the primary propaganda arm of the state, entrusted with shaping public perception and defending the regime’s narrative across the country.

Yet, its financials speak volumes about a broader crisis. In 2023, total revenue fell sharply by 29.67%, down to USD 148.01 million, a stunning reversal from the growth of 19.55% just the year before. Even more alarming is the 41.2% drop in net profit, leaving only USD 19.04 million, despite the broadcaster sitting on USD 751.69 million in equity and a remarkable USD 282.88 million in working capital. These figures indicate that VTV’s revenue-generation capacity is collapsing even while its capital base remains strong, suggesting bloated operations and a failure to adapt to modern media consumption trends.

From a Vietnam private financial data and credit risk management standpoint, this imbalance is not just a business anomaly; it's a strategic vulnerability. VTV remains deeply entrenched as a political institution rather than a competitive media outlet. With YouTube channels, private streaming platforms, and independent content creators rising rapidly in Vietnam, VTV’s centralized, top-down broadcast model is increasingly obsolete.

Asset-wise, the organization has plateaued, with a 1.6% asset decline in 2023. Its paid-up capital of over USD 471 million underscores just how much public funding continues to be allocated to sustain a machine that many viewers are tuning out. The numbers show a system struggling to justify its scale in an age when audiences are shifting to digital-first, interactive content.

In truth, VIETNAM TELEVISION is less a commercial enterprise and more a political infrastructure project, its relevance propped up by state funding, not by market demand. It still wields power, especially during state ceremonies and crisis broadcasts, but its dominance is eroding. For those assessing business verification or institutional partnerships, VTV may look stable on the surface but must be understood for what it is: a giant with firm political footing but an increasingly shaky financial future.