What Is a Press Release?

A press release is a piece of news or information that companies send out to inform the public and the press about something noteworthy or of material significance. Press releases are usually handled by a company's public relations (PR) department.

Companies issue press releases, which may be spread to a wider audience through the use of a newswire service, to announce newsworthy topics, such as a new product, 澳洲幸运5官方开奖结果体彩网:a quarterly earnings report, an impending merger, the cast and creatives of a new Hollywood fꦆilm project, or any other material information.

How a Press Release Works

A press release is written and sent out by a firm; it is not the result of reporters conducting independent journalistic work, though it is often intended to alert journalists to a potential news story. As a r🔴esult, press releases may contain bias or subjective interpretations that should be considered by their readers. The best way to identify that an article is a press release and not a news story is by its appearance. There is usually no byline, and the release should announce up top the press office that created it.

Public relations professionals rely on newswires to deliver their press releases. In a 2024 survey of over 3,000 journalists across 19 countries, 74% identified the press release as the content they most wished to receive from public relations professionals. Cision, the public relations and marketing provider that conducted the survey, concluded that “the press release still holds immense value for journalists.”

So what is the reach of these companies? According to the newswire Agility PR Solutions, “Depending on the size and popularity of the wire, there can be tens of thousands of press releases posted a day.” PR Newswire (PRN) says that it reaches more than 440,000 newsrooms, direct feeds, subscribers, journalists, influencers, websites, and digital media outlets in over 170 countries and 40 languages. Press Association (PA) claims “Over 1 million words of news and features copy created each week, plus 3000 pictures, created by our journalists & photographers” and “30 million hours of live video streamed each year.” Business Wire says it communicates with more than 100,000 media outlets in over 160 countries.

Press releases can be tailored for 澳洲幸运5官方开奖结果体彩网:investor relations (IR), company news, and disclosure requirements. Areas of interest might include 澳洲幸运5官方开奖结果体彩网:investment vehicles, accounting and compliance, regulatory news, earnings and dividends, and the banking industry, span🧸ning financial services, science and technology, and public policy.

Pros and Cons of Using a Press Release

Writing a press release is a way to create buzz around products, partnerships, or any noteworthy news. It nudges journalists to cover the story. In the Cision survey, 68% of journalists found press releases to be the most useful source for generating content or ideas. Press re𝄹leases help companies gain instant exposure, build trust with existing and prospective customers, garner positive press coverage, mitigate negative coverage, and increase traffic to their website or stores.

Press releases, however, can only do so ﷺmuch. They are no substitute for a marketing strategy, being limited in impact. Another problem is that they can come across as insincere or shallow because💦 companies use them to accentuate the positive while eliminating the negative.

Press Release vs. Media Alert

A media alert is a shorter, more concise communication intended to inform the media about an upcoming event or opportunity that they may want to cover. Unlike a press release which is more narrative and detailed, a media alert is straightforward and typically follows a "who, what, where, when, and why" format.

A media alert is primarily used to invite media attendance at events like press conferences, product launches, or significant announcements. The goal is to generate media interest and ensure that reporters and journalists know when and where to be for live coverage, without going into too much detail about the event itself.

The key difference lies in their purpose and format. A press release is meant to deliver a complete story to the media, equipping them with all the information needed to report on a particular development. In contrast, a media alert is a brief notification that serves as a reminder o💧r invitation. While a press release might be used to inform the public through media channels, a media alert is more focused on ensur𒐪ing media presence and participation in real-time events.

Press Release vs. Press Statement

A press statement is a shorter and more targeted communication that addresses a specif꧂icꦛ issue, response, or update. Press statements are often reactive, and issued in response to a situation or media inquiry.

Press statements typically contain a brief message or comment from a spokesperson or company representative, focusing on clarifying a stance, providing an update, or addressing a particular concern. Unlike press releases, which aim to tell a full story, press statements are meant to deliver a concise message without the need for extensive context or background information.

The main difference between a press release and a press statement is their purpose and scope. A press release is intended to provide a detailed story to the media. A press statement is meant to be shorter. Also, a press release may be better suited for internal occurrences (i.e. a 澳洲幸运5官方开奖结果体彩网:company's earnings), while a press statement i🐠s more about delivering a specific, concise message often in respon✤se to external events or questions.

Press Release vs. Press Conference

For our last comparison, let's look at a press conference. A press conference is a live event where an organization or individual addresses the media directly. During a press conference, representatives speak on a particular issue, make announcements, or respond to questions from journalists.

Unlike a press release, which is a one-way communication, a press conference is interactive, allowing for real-timeꦦ engagement and questioning. Press conferences are often used for signific🌸ant announcements, crisis communication, or when a more dynamic or nuanced message needs to be conveyed. The setting allows the organization to address the media and public simultaneously, often adding a level of immediacy and impact.

While press releases are designed to deliver a specific narrative, press conferences offer a platform for discussion, clarification, and immediate response. For instance, a press conference can be liv🌳e streamed where viewers can immediately query the presenter. For a press release, there is a disconnect between the company and the reader (which may be intentional).

Example of a Press Release

A press release about earnings will highlight key financial metrics for the recently completed quarter and commentary from management. It will include headline revenue, 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) numbers, and growth from the previous year and quarter. Usually, there is a narrative about why the numbers ꧅came in where they did and if they met or exceeded goals. Stocks tend to move wildly after an earnings release because new fin𝄹ancial information hitting the market causes a revaluation of the company.

For example, on August 8, 2024, Trend Micro reported its Q2 2024 earnings. Companies tend to release press releases for positive or negative earnings, but Trend Micro's earnings were favorable with enterprise net sales increasing 16% year-over-year. A screenshot of a portion of the actual press release is below.

The Bottom Line

Press releases have been around in one form or another since the days of Paul Revere and carrier pigeons. They are an essential means for companies to disseminate important news about themselves to the press and public. They can also be used to mitigate negative press. They are usually written by public relations departments or firms, and their reach is often magnified for a fee through the use of a newswire company. However, they do not have the same impact as a properly researched news article written by a journalist, as they are not objective, usually choosing to highlight good news and avoid any negative information.