Three Major Wire Services Raise Rates

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Three major newswire services have raised their rates in recent months, PRNewser has learned.

PR Newswire raised rates in October 2009 and more recently instituted a 5% rate increase across the board, the company confirmed to PRNewser.

A Marketwire spokesperson told PRNewser the company’s clients “saw a modest increase to select products and newslines in 2010, effective February 1. It wasn’t an across the board percentage hike.” The spokesperson also said Marketwire did not raise rates at all in 2009.

Business Wire has also instituted an additional fee per release, as opposed to a percentage increase.

“Rather than instituting an across the board percentage rate increase, we’ve decided on a different course by providing automatic access to user friendly Search Engine Optimization and — potentially — more than 4 billion “smart” devices worldwide, according to a recent Morgan Stanley report,” Business Wire president Gregg A. Castano said in an email to PRNewser.

The “automatic fee” is $75 per release. Castano said Business Wire clients can only opt out of the fee “for conference call announcements, certain types of media advisories and other special circumstances, which are considered on a case by case basis.”