Over the past few weeks, Goldman Sachs generated a lot of Media Attention regarding its latest earnings announcement. In case you didn’t hear, Goldman decided to forgo the traditional business wire and instead only publish their press release on their corporate website, and then tweet out relevant and high-level bullets from the release.
Jeffrey Goldberger, Managing Partner at KCSA Strategic Communications, recently took to a blog post to provide his thoughts on the matter. You can read the full blog here. In short, his argument is that Goldman can basically do whatever they want, and the masses will follow (he refers to this as brand permission). However, for companies that lack Brand Permission, and therefore don’t have the amount of media attention and eyeballs on their public equities as they’d like, the traditional newswire route is still the best route to reach the widest audience possible.
While we won’t take on the topic of using a wire service versus not, we would argue that the most important aspect of distributing public company information is to ensure that it is timely and Authentic. As we blogged a few weeks ago in regards to Avon and Twitter, there are only a few places an investor can go where they can be certain that the information posted is authentic. Since we launched theIRapp three years ago, we have stressed the importance of a company’s IR website and IR app as the way to ensure that the public has instantaneous access to authentic, company generated information and content. If investors and the media rely on other Internet-based sources (and even the SEC’s database), misinformation is bound to occur.