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Social media offers a better user experience than investor relations websites, says Dominic Jones in a compelling post in which he argues...[...] company disclosure channels that once seemed innovative " such as investor relations websites, webcasting and PR wire services " are struggling to stay relevant as investors grow accustomed to receiving information from companies in real-time on their favorite social networks in formats that are easier to access and use. These changes are irreversible [...] the audiences for investor relations information are changing how and where they access and use company financial disclosures. They are moving away from the old PR wire channels and engaging with companies directly on their websites, and through social media when companies make themselves available in those channels.
A large and growing number of companies have recognized this. While they may have initially started using social media for marketing or PR purposes, they've quickly realized that investors also are using social media and want to receive information where it's now most convenient for them.
In fact, hundreds of companies will use social media this quarterly reporting season. Most will use Twitter, but growing numbers will also use Facebook, YouTube, SlideShare and StockTwits. And more companies are coming on board every week, which in turn is driving more investors to use these channels.
I can't say this loud enough: SOCIAL MEDIA IS NOW MAINSTREAM, and companies that haven't yet started using social media in their IR programs are in danger of finding themselves talking to increasingly smaller audiences.
We have reached the tipping point for social media in investor relations. If you're not using social media in your IR program yet, you need to make it a priority and start right away.
Jones examines in some detail the example of what US aluminium producer Alcoa is doing with multiple social channels, including Facebook and Twitter, as part of its integrated approach to investor communication, embracing the social with the traditional.
He also references a host of other companies in North America and Europe " probably the most heavily-regulated parts of the world from a financial communication point of view, with tight parameters on what's permitted and what's not in terms of using the web and 'new media' " and what they're doing on Twitter, along with great screenshots of their tweets; the list includes Boeing, Ericsson, Daimler, Union Pacific, Vocus, Roche, Amgen, Rio Tinto and more.
Dominic makes it clear in his post that social tools and channels have not replaced traditional methods of communicating investor and related information: the website, the earnings announcement and call, etc. They're still very much part of the IR landscape.
But it's equally clear from the well-researched examples in the post that the writing is very much on the wall for companies that continue to rely only on those traditional communication methods.
Read the full story: Social media investor relations reaches tipping point
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News Corp Says It's (Really, Really) Ready To Sell MySpace (Mashable) Not a real surpise, but its rare that a company is so vocal in their disdain.More Music Industry News & Commentary:
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Citing growing traffic, a 200-300% jump in advertising revenue over the last year and an imporved Content ID system that allows..."Our larger music partners on the site are making millions of dollars per month," YouTube director of content partnerships Chris Maxcy told Evolver.fm. "The other thing that's astounding is the growth in this. We've seen the monetization levels increase two to three times, just in the last year Our label partners have been pretty pleased with that level, and we expect to see that growth continue. A year from now, I'm hoping we'll be able to say 'we increased revenue and RPMs another 2-3x."
Freemium Lives!
But that doesn't mean that the Google YouTube team doesn't believe that people will pay for music too.
"We've been very focused on advertising so far, but there are users who will pay for content with their money, and users who will pay for content with their time and attention," according to Phil Farhi, a product manager from Google's YouTube monetization team.
"These are the traps that people fall into: They look at price tags for advertising (supported services) versus price tags for subscription or downloading services," he added. "But you really need to consider not just the price tag, but the scale of audience and views that you're reaching with that."
This is all great news for Spotify, MOG, Rdio, Rhapsody and other music streaming services. While the pennies that artists and labels now receive from song streams may be seen as unfair or hurting sales by some, the income from tens or hundreds of millions of ad-supported users and paying subscribers becomes a significant source of revenue.
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