NEW YORK: Thomson Reuters will launch a complete workflow PR services platform on January 1. The new offering, Thomson One PR, includes press release distribution, and a Web-based desktop platform of message analytics and media monitoring, according to Greg Radner, global head of PR services, investment and advisory, for Thomson Reuters.
The media and information company is looking to build on its success in the IR industry where it offers Thomson One Investor Relations, which provides market insight, as well as webcasting, and other services. It is part of the corporate services division that works with about 6,000 clients.
“We're a large player in the IR space,” Radner said. “We took a close look at the PR services space in the last couple years. We're entering in a very focused way.”
Continued growth potential in the PR industry, combined with changes in media and Web 2.0 technologies that have both complicated and changed the PR pro's job fueled Thomson Reuters' interest in PR services, he added.
In the past year, the company has used both acquisitions and internal resources to develop the new PR offering. In October, Thomson Reuters completed its acquisition of Hugin, a European regulatory and news distribution service with 1,700 clients, and in November it partnered with dna13, a software company that offers desktop monitoring and analytic solutions for PR professionals.
The distribution service will allow clients to send news both through a Web-based release and direct to terminals and newsrooms, putting it in competition with existing services like Business Wire and PRNewswire. The application to upload and publish releases is Web-based.
Thomson One PR will launch in North America on January 1; in Europe mid-2010; and in Asia toward the latter half of next year, Radner said. It is part of the investment and advisory division of the company, which represents about $2.4 billion in revenues. The group traditionally services portfolio managers, investment bankers, corporate executives, and research analysts.
“PR services is a sizable market… that's growing in terms of spend by clients,” Radner added regarding the company's decision to invest in a new service.
Initially, the company is targeting in-house PR departments for Thomson One PR, “leveraging the clients we already have,” said Radner, but PR agencies are another potential market.