Why Newswires? The Past, Present & Future of Trusted News
By Gregg Castano, President, Business Wire
Newswires have a long tradition of fulfilling an industry need for the dissemination of market moving information to a wide range of news organizations and other stakeholders. Trends and technical advancements have influenced how news is both distributed and consumed.
The stability, credibility and widespread usage of newswire distribution networks are a primary reason why communications professionals view them as the backbone of the news dissemination process.
With over 50 years of industry leadership, Business Wire has established irrefutable trust from within the news market and has proven its thorough understanding of the needs of the digital age by creating a technologically sophisticated, patented distribution network. This trust and innovation have made Business Wire the launching pad for turning company news releases into credible breaking news.
The credibility and tradition of trust earned from journalists and other downstream consumers of Business Wire content enables companies of all sizes to confidently submit press releases for distribution across the wire. Within its 22 local newsrooms around the world, Business Wire employs experienced and knowledgeable editorial teams who review this content to confirm legitimacy and accuracy. This process of vetting news content is a key feature of Business Wire’s value proposition and results in the unquestioned reliance on our service by leading journalists and investors who act upon the breaking news we deliver.
Business Wire has spent over 50 years building symbiotic relationships with media, investors and consumers by regularly delivering factually reliable and timely corporate news content.
A comprehensive global distribution system and the hard-earned trust of media and investors results in Business Wire being able to provide broad reach and visibility to its members. In addition to direct distribution of releases to the news systems and mobile apps of publications large and small on a global scale, corporate announcements are disseminated across a platform in which all relevant potential audiences have access to the information. Pushed to media and investors, and SEO friendly on the web, virtually anyone can easily find Business Wire content and move on it, from reporter to consumer, from investor to blogger. Further, all information is distributed in full text, ensuring full disclosure of all the information an issuer wishes to convey. It is also simultaneously transmitted to all end users over a private, encrypted network that guarantees that it is visible and not trapped by spam filters.
Business Wire has partnerships with 60 national and international news agencies facilitating reach to more than 89,000 media outlets in 162 countries. Industry professionals recognize our benefits as exemplified by the 92,000+ journalists who subscribe to our PressPass service, offering convenient and customized news feeds. We also offer more than 1,676 delivery options in more than 50 local languages that reach specified geographic markets and offer a choice of nearly 200 industry trade categories at no additional charge.
Every day companies spend significant dollars creating a broad array of content designed to establish credibility among, and deliver key messaging to, their constituencies. In each case, the success of these programs is tied directly to their visibility.
The more promotion content receives, the more likely it is that the target audience will see and act upon it. Rather than simply promoting the content via owned channels or social advertising and platforms, which can limit visibility, utilizing a newswire can enhance visibility, coverage and engagement and drive the traffic needed to make the program achieve its objectives.
With Business Wire distribution, news is disseminated across major global platforms including AP, AFP, Bloomberg, ThomsonReuters and Yahoo! Finance, with dual-platform posting to BusinessWire.com and EnhancedOnlineNews.com. Your press release also includes interactive hyperlinks and social sharing links to help drive engagement and content sharing, improving performance in search. The goal is to create the kind of visibility that will lead to user activity and engagement.
INNOVATION with MOBILE + MEASURABLE
More and more consumers, journalists and professional investors are using mobile technology to search for and discover news. Business Wire utilizes cutting edge technology to ensure that every press release is available to these audiences on all applicable media. Whether they are reading Flipboard, AP’s mobile app or platforms like Twitter, it is now easier than ever to find news releases regardless of the device or technology being used. Advanced technology such as that which is employed on Business Wire’s Global-Mobile-Social-Measurable (GMSM) platform allows delivery of press releases in responsive design format to make it easily readable on mobile, tablet and desktop devices. Additionally, releases are targeted to individual behavior via the Dlvr.it Promoted Stories Platform, which serves up news to consumers depending upon their areas of interest.
Business Wire completes the circle by providing measurement reports with every release, which allows for tracking audience engagement. This enables the issuer to analyze the success and impact of each release or campaign and make adjustments when and if necessary.
All of this is made possible by Business Wire’s patented NX news platform — a two-way, Internet-based, closed news feed that enables news to be distributed faster, simultaneously and pinpointed to the specific minute desired. Among its advanced features is the ability to include special formatting and links, making the press release easier to find, navigate, process and act upon.
In 2014, recognizing the increased need and usage of multimedia by reporters and consumers, Business Wire launched a suite of interactive multimedia services, highlighted by the News Capsule and the Picture Capsule. These products not only provide the assets media outlets need to round out a story, they increase consumer engagement by an average of 7–10 minutes per release.
Business Wire’s patented, simultaneous NX worldwide network ensures that news is distributed to every outlet at the same time and in a highly secure manner. In fact, security is Business Wire’s number one priority. As such, Business Wire is currently the only newswire service to have received the Service Organization Control [SOC] 2 Type II attestation engagement report, providing independent validation that the company’s internal security controls are in accordance with the American Institute of Certified Public Accountants’ applicable Trust Services Principles and Criteria.
One sure way to maintain visibility is to also ensure longevity.
The online archiving of news releases by newswires ensure that news can easily be discovered by interested parties by searching company names, ticker symbols or key phrases. Such archiving of information guarantees that news is visible and available for reference long after its initial release. Business Wire’s distribution includes full-text posting to thousands of websites and financial databases, such as Factiva and Lexis-Nexis, which archive news over a long period of time, increasing the discoverability of issuers’ news to researchers.
As a result of Regulation Fair Disclosure, it is key for today’s public companies to simultaneously disseminate their market moving news to as wide of an audience as possible. It is important to allow analysts, reporters and interested consumers to find company news, and act upon it, as quickly as possible, with no unfair advantage given to any one party.
Business Wire’s simultaneous disclosure network, included in every US geographic wire circuit distribution, simultaneously reaches all key disclosure media including the Associated Press, Bloomberg, Dow Jones, Reuters, Investor’s Business Daily, Moody’s Investors Service, Standard & Poor’s, The New York Times, The Wall Street Journal, as well as full-text posting to financial databases, such as Factiva and Lexis-Nexis.
A newswire is a trusted method to meet Regulation Fair Disclosure, which ensures all interested parties have access to your news and financial data at the same time. While the SEC has amended its guidance on disclosure to include social channels under certain circumstances, in reality, social channels were not designed or positioned to be disclosure vehicles. Twitter, Facebook and other services modify the visibility of all content to maximize their own advertising revenues. As such, the vast majority of public issuers utilize newswires to ensure broad and simultaneous reach to the investing public.
News consumption is at an all-time high and recent studies show that potential purchasers are spending more time online researching products and services before ever contacting the company directly. Using a newswire helps ensure that news is easily found in the research phase of the buying cycle. The existing interest from potential purchasers coupled with the high visibility provided by a newswire distribution, positions information to both be seen and acted upon in a timely and efficient manner. The news is available in full text as the issuer intended, providing an additional layer of certainty that the consumer has access to full, unfiltered information.
According to a media survey conducted by Business Wire in 2014, 90% of the responding journalists referenced a press release in the previous week with almost 62% of those surveyed claiming to have used one in the past 24 hours. Newswires are a vital utility in the news industry and as a result of Business Wire’s veracity and innovative practices, media professionals routinely rely upon our service.
Business Wire has spent over 5 decades deeply rooted in the news industry and recognizes that a new age has arrived. It is with optimism and enthusiasm that we embrace this new digital age and we look forward to building on our foundation of innovation in order to continue to provide the media, the investment community and the public with a comprehensive, transparent and irreplaceable mechanism for distributing vital corporate news.
About the Author
Gregg Castano was named President in December 2009. In this role, Castano remains responsible for the company’s global growth strategy into new international and vertical markets, and expands his involvement in the company’s marketing and communications efforts on the operational level. He serves on the company’s executive committee and works closely with CEO and Chairman Cathy Baron Tamraz on strategic planning and global branding.
Castano has played a key role in the company’s U.S. and international expansion. During the past decade, Castano lead Business Wire’s efforts as it opened offices in London, Brussels, Frankfurt, Paris, Tokyo, Sydney and Toronto, while establishing a network of reciprocal sales offices throughout Latin America, the Middle East and Africa.