According to a Union minister, ad tech companies are in charge of more digital ad revenues.

Rajeev Chandrasekhar, a union minister, stated that as millions of people use the internet to buy goods and services, it is now necessary to establish legal standards for consumer accountability.

The digital publishing news agencies expressed their concern to Rajeev Chandrasekhar, Union minister of state for skill development, entrepreneurship, electronics, and information technology, about the general digital economy and the economics of digital content, whether it be news or entertainment.

Ad Tech Companies Generating More Digital Revenue

The minister stated there are certain problems with how the internet has developed where the ad tech platforms are dominating an increasing amount of digital advertising and monetization earnings in his speech to the e4m-DNPA Future of Digital Media Conference & Awards.

According to Chandrasekhar, this has caused a significant imbalance that has upset the dynamics of content generation and content monetization as a whole.

He added that it is obvious that at some inflexion point, the consumption of news in particular and content, in general, will shift sharply to the internet. “It leaves the small guy at a disadvantage which is not the right thing for a country like India where we potentially have hundreds and thousands of content creators,” he said.

Chandrasekhar referred to Australian MP Paul Fletcher’s comments, which were reported in the newspaper today, and said, “His thinking is not very different from how we are approaching this issue, and we hope to, in the Digital India Act, address this issue of the disproportionate control and the imbalance in the dynamics between content creation and content creators’ monetization requirements – and the power that tech companies and ad tech platforms hold today.”

According to Chandrasekhar, as more and more people utilise the internet to buy goods and services, it is essential to establish legal requirements for consumer accountability.

Since it was assumed that these were all innovation platforms and posed no threat or opportunity for criminal activity, legislation, lawmaking, and societal monitoring and oversight of digital platforms lagged behind innovation for many years, the minister stated in his virtual presentation.

But as much as these platforms stand for good and can empower, the minister noted, they can also be abused and exploited as engines of harm, illegality, and crime.

These traditional media ideals have been questioned or put to the test as a result of the proliferation of digital media and digital companies.

According to the minister, the Covid pandemic has produced one significant change in consumer consumption patterns, and this disruption will become the new normal for all things digital, as people saw with the launch of the ChatGPT.

Apurva Chandra, I&B Secretary, Government of India, stated that digital platforms should receive a fair portion of money from the major IT platforms. CEO of ABP Network, Avinash Pandey, digitally read the message.

At a time when digital media companies are attempting to figure out business models to navigate a challenging future, the first-ever conference on digital media, which was centred on the future of digital media in India, could not have arrived at a more advantageous time. These questions were addressed in an effort at the 2023 Future of Digital Media Conference.

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The first-ever conference on digital media, which was focused on the future of digital media in India, could not have come at a more beneficial time as digital media companies try to figure out business models to traverse a hard future. The Future of Digital Media Conference in 2023 made an effort to address these issues.

Every member of the digital media ecosystem, according to Tanmay Maheshwari, DNPA chairperson and MD of Amar Ujala, has a responsibility to transform the world.

Sukumar Ranganathan, Editor-in-Chief of Hindustan Times, gave a powerful opening keynote speech in which he discussed how technological advancements and the waning use of traditional skills in newsrooms will determine journalism’s future.

Future journalism, according to Sukumar Ranganathan, will need to be produced in newsrooms that value justice for all producers.

In his speech, Puneet Jain, CEO of HT Digital, noted that this is the biggest chance for digital media to serve millions of users and news consumers.

To address the problem of content monetization, Jain stated the key is how to determine the proper equilibrium between publishers and platforms.

The big tech complacency legislation movement in Australia was led by Australian MP Paul Fletcher, who provided his perspective on Australia’s Law on Technology Platforms and News Publishers.

Several panel talks covered topics like Digital Media and its Social Impact, Digital India and Digital Media: A Partnership for Building a Connected Nations.

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