SAN FRANCISCO: Business Wire will no longer charge an annual membership fee for its services starting January 1, 2005.
Business Wire members currently pay a $120 annual fee, in addition to fees associated with the distribution of press releases and additional services.
Michael Lissauer, SVP of marketing and business strategy for Business Wire, said the decision was made in part due to the current business climate. "If we can save our members some money, we'll save them some money," he said.
In addition to eliminating the membership fee, Business Wire said it will reduce rates on premier multimedia services and include free monitoring reports on a range of circuits.
"A wire service is not a commodity," he said. "Where others are taking away services, we're adding services and we're trying to provide more value to our members."
Recently, Business Wire announced it had entered into a distribution agreement with Agence-France Press, giving the newswire access to AFP's Asia-Pacific region.