I recently came across an astounding statistic - in 2007, press releases represented a $2.2 billion market. And that figure only covers the cost of distributing press releases through services such as PR Newswire. It doesn't include the cost of writing and pitching services, which, with standard agency fees, could easily surpass that amount. But in this age of social media, why is the PR industry continuing to rely on such a seemingly dated channel to distribute information? Bloggers and online journalists have asked us to reconsider the way we reach out to them. Bloggers want unique, targeted information that's relevant and interesting to their readers, and press releases, which are designed for mass distribution and consumption, are hardly targeted. I'm not arguing that we should abandon the press release altogether. I agree with this blog post, which encourages companies to reserve press releases for major news announcements. A large acquisition, a new CEO, a major shift in strategy, an industry-changing new product - these types of announcements warrant mass distribution. But for smaller announcements, why not use the company's blog or Twitter feed to get the word out? Surely bloggers and journalists will respond more readily to these channels, not to mention personalized pitches designed specifically for their audience. Do you think your company or your clients are replying too heavily on the press release? What can we as an industry do to move away from that format? Or, do you feel the press release is still the best channel to push out company news? I welcome your comments below. Have a great weekend! @lizkell