Press releases have been a key component of public relations for ages. Want to alert the media and consumers to a new product, offering or insight? Put out a press release. Want to issue a statement for public consumption? Put out a press release. Hired a new executive and want to sound the bells of success? Put out a press release.
But how you disseminate that press release and who it reaches is a much more complex equation. Public companies must meet disclosure requirements while private companies do not need to. Some announcements are critical for public record and to create an online index of company news but might otherwise draw little scrutiny and coverage. Some press releases form the backbone of a public relations campaign while others are simply a side dish to the main course. Then there are geographic targets based on the type of news and intended reach: global, continental, national, regional and local.
Newswire considerations can get complicated quickly. Let’s take a look at the various newswire types available for press release distribution and remove some of the mystery.
Top Tier: Big Names; Big Budgets
The Players: PR Newswire, Business Wire, Globe Newswire, etc.
Cost: Fee per first 400 words; additional fee for every 100 words over 400; tracking and reporting fee; fee for multimedia (images, video, charts, etc.) inclusion
Added benefits: Meet public disclosure requirements; usually includes expert editorial review
Drawbacks: Cost
Second Tier: Solid Options; Save Some Cash
The Players: ACCESSWIRE, Newswire, etc.
Cost: Flat fee with no word limit
Added benefits: Tracking and reporting included; multimedia included; meet public disclosure requirements
Drawbacks: Not as established as the big names above
Third Tier: Decent Performers; Minimal Investment
The Players: PRWeb, Send2Press, etc.
Cost: Low flat fee with no word limit
Added benefits: Tracking and reporting included; multimedia included
Drawbacks: Web release only (no direct email to reporters); smaller news outlet network
While not hard and fast rules nor a comprehensive list of wire services, these designations present a quick reference guide to provide a better understanding of the types of available offerings. Matching the wire service to goals of the press release can help narrow down the choices and ensure dollars are well spent.
Example scenarios
Scenario A
Goal: A public company issues a press release to serve as the definitive statement with limited direct pitching to reporters to supplement the wire distribution.
Best Match: Top tier services
Reasoning: They have the largest news networks for automated placements, allow reporters to subscribe to receive direct notifications of news matching their beats and meet public disclosure requirements.
Scenario B
Goal: A private company issues a press release announcing a new piece of momentous industry research, and its PR firm will also pitch the news directly to relevant media reporters.
Best Match: Second tier services
Reasoning: A large news network will produce automated placements. Reporters will receive pitches on the research directly from the PR firm. The release can include charts and graphs that illustrate key findings from the report.
Scenario C
Goal: A private company issues a press release announcing an executive hire and its PR firm will pitch the news directly to relevant media.
Best Match: Third tier services
Reasoning: A smaller, online-only news network will provide some automated placements. Reporters will receive pitches on the research directly from the PR firm, but coverage is most often minimal and appears in “new hires” or “people on the move sections” of industry trades. The release can include a photo of the executive.
Of course, these are basic examples that don’t account for more nuanced scenarios such as preferred wire services, agency discounts, volume-discounted release packages and more. For a deeper dive into these and other potential factors, feel free to reach out see how PR Return can help make sense of which wire services best meet your needs.