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Session Preview: How Business Wire is Driving Innovation in Communications

We spoke with Business Wire VP, Scott Fedonchik, ahead of his session. Here's what he had to say about innovation in communications. 


Scott, thank you for taking the time to speak with us. You're hosting Tuesday morning's "What's Driving Innovation in Communications?" panel. Tell us a bit about it. What is it about this topic will excite attendees the most? 

We recently fielded a survey among over 400 top journalists and are seeing some interesting data related to innovation in the newsroom.  Technologies like Periscope and Meerkat, video production skills, social media, coding and story amplification capabilities are the skills journalists are predicting they will need to in order to improve their careers. I think that really speaks to the evolving landscape of communications. Every story now needs to be visual, social, mobile and measurable.  We will explore these changes and others in our panel discussion and look to provide insights into what's next for communications pros, and how you build an organization that can adapt to, and lead, change. 

Why do you think innovation is such a hot topic in the PR, communications and media industries today? Is it an overused word?

Innovation is hot because it needs to be. The world moves by what's new. If you’re not innovating and driving your business forward, someone else will come along and do it to you. I’d much rather hear about innovation and disruption than complacency and old thinking. Communication has changed rapidly over the past 5 years and if you're not keeping pace, or trying to be ahead of what’s next, you are falling behind. 

In what ways is Business Wire really ahead of the curve in terms of innovation?

Just this year we introduced two new innovative products in multimedia and measurement. Our News and Picture Capsules are “agile news releases”.  They are self-contained content marketing tools that are responsive, embeddable, social and measureable.  We also introduced the Market Impact Report that measure the impact a news release has on stock performance. It is highly innovative measurement for the PR and IR practitioners, and we are the only wire that offers these services. 

One last point on Business Wire innovation would be the launch of BizWireTV. We have created a video newsroom that packages up the top trending stories on Business Wire based on social media engagement. We are focusing on startups, emerging technologies, media, entertainment and pop culture stories, and have a lot more planned around this new media platform.

What is it about Communications Week that made Business Wire want to become a partner of the event? Why are you excited about Communications Week?

Business Wire wants to be part of any dialog about innovation in communications.  To have a platform like this here in our backyard makes perfect sense and we are excited to be involved.  We look for opportunities to engage with brands and agencies that are pushing innovation so we can both learn from them and look for ways that we can collaborate. Communications Week is an ideal setting for this discussion.

The "What's Driving Innovation in Communications?" session with Business Wire will take place on Tuesday, October 20th. Please see our schedule page for details and follow us @CommsWeekNY on Twitter for live coverage of the panel along with other events.