English

The 2nd CGTN Global Media Summit and the 8th CCTV+ Video Media Forum (VMF2018) opened in Chongqing Municipality, southwest China, on Oct. 16, 2018.


Vipp Jaswal, Fox News Channel's head of International Affairs, delivered a keynote speech titled “Media Dilemma - The Pursuit of Success or Excellence”.


Having years of experience in journalism, Jaswal has witnessed some radical changes.

With the rapid development of digital technology, smart phones and social media are so pervasive and news, which used to be a “public service”, now becomes a “personal service”.


As news commercialization proceeds, “it’s become a business driven by success, not necessarily by excellence,” said Jaswal.


Success and excellence differ greatly for “one is driven by ratings, revenue and monetization while the other is driven by perception”.


 “Success in today’s commercial journalism demands our facts to be factual, our information to be accurate, our opinions to have conviction in a way that it captures the attention of the audience. Knowing your market is the key. Working with market forces, not against them,” said Jaswal.


On the impact of new media upon traditional media, despite the claim of some parties saying “television has died,” Jaswal thinks television still has its unique value in broadcasting.


He said that according to a survey, television is still the preferred type of media by many and it can achieve great communicating effect if “synergy” is created between the programs and the audience.


Under the circumstances that new media is emerging and the internet environment is still “cluttered”, Jaswal deemed it a strong need for “news agencies to form alliances, to come together”.


"Now we see media companies across the world merging their capabilities. In fact, our host, the China Media Group have had the foresight of bringing together CCTV, CRI, CNR and CGTN under one roof, thereby allowing the economy of scale, one having large outreach, of course, various platforms. This strategy is extremely smart. They are focusing on growing the market together rather than fighting for market share," he said.


Jaswal also talked about the influence and role of artificial intelligence.


“The most valuable resource on our planet is no longer oil; it is data. Your data, your personal data, your behavioral data,” he said.


With AI, media can be better informed about what, when, where and how the customers want to view the content. It can help the business to allocate the resources and budget in advance to achieve higher efficiency.


On the other hand, Jaswal said, artificial intelligence can also be a “double-edged sword”.


“What the development of artificial intelligence needs is actually artificial wisdom” and media workers should constantly seek progress instead of relying on convenience brought by the new technology.

Media Dilemma - The Pursuit of Success or Excellence

The 2nd CGTN Global Media Summit and the 8th CCTV+ Video Media Forum (VMF2018) opened in Chongqing Municipality, southwest China, on Oct. 16, 2018.


Vipp Jaswal, Fox News Channel's head of International Affairs, delivered a keynote speech titled “Media Dilemma - The Pursuit of Success or Excellence”.


Having years of experience in journalism, Jaswal has witnessed some radical changes.

With the rapid development of digital technology, smart phones and social media are so pervasive and news, which used to be a “public service”, now becomes a “personal service”.


As news commercialization proceeds, “it’s become a business driven by success, not necessarily by excellence,” said Jaswal.


Success and excellence differ greatly for “one is driven by ratings, revenue and monetization while the other is driven by perception”.


 “Success in today’s commercial journalism demands our facts to be factual, our information to be accurate, our opinions to have conviction in a way that it captures the attention of the audience. Knowing your market is the key. Working with market forces, not against them,” said Jaswal.


On the impact of new media upon traditional media, despite the claim of some parties saying “television has died,” Jaswal thinks television still has its unique value in broadcasting.


He said that according to a survey, television is still the preferred type of media by many and it can achieve great communicating effect if “synergy” is created between the programs and the audience.


Under the circumstances that new media is emerging and the internet environment is still “cluttered”, Jaswal deemed it a strong need for “news agencies to form alliances, to come together”.


"Now we see media companies across the world merging their capabilities. In fact, our host, the China Media Group have had the foresight of bringing together CCTV, CRI, CNR and CGTN under one roof, thereby allowing the economy of scale, one having large outreach, of course, various platforms. This strategy is extremely smart. They are focusing on growing the market together rather than fighting for market share," he said.


Jaswal also talked about the influence and role of artificial intelligence.


“The most valuable resource on our planet is no longer oil; it is data. Your data, your personal data, your behavioral data,” he said.


With AI, media can be better informed about what, when, where and how the customers want to view the content. It can help the business to allocate the resources and budget in advance to achieve higher efficiency.


On the other hand, Jaswal said, artificial intelligence can also be a “double-edged sword”.


“What the development of artificial intelligence needs is actually artificial wisdom” and media workers should constantly seek progress instead of relying on convenience brought by the new technology.

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