Yesterday the Securities and Exchange Commission gave companies permission to announce key information on social media channels. Investors must be told which sites the company will use, but overall this is a victory in the battle of social media vs. regulators.
What does this mean for the PR industry as a whole? We’re currently experiencing a dramatic shift in the way we do business… In the past, press releases have been the epitome of a news announcement. Couple that with press days, media tours, etc. and you almost always guaranteed coverage.
Social media has changed the game. Twitter has become the place to find the most up-to-date, late breaking news. Personal Facebook and Twitter handles have given employees a window to the world, where what they say has more meaning than ever. Regulators have taken some time to embrace social media and have been road block, especially in financial services, but with this new ruling, it looks like they’re finally coming around.
What does the future hold for the press release? Our bet is that press releases will slowly be replaced with live news updates via social media channels where people can interact in real-time. What do you think?