You
might have come across some abbreviations like AP, AFP, and DPA in news
reports. Ever wondered what these stand for or why do newspapers publish them?
It
may surprise you that these are some of the most powerful and trusted names in the
news business. Some of them like has been in existence since the 19th century. Media
knows them as news agencies, wire services or news wires.
News
agency does not own newspapers or television channels, but they generate news
for all forms of media, their subscribers include magazines, newspapers, radio
stations, television networks and now news websites.
Their
subscribers exist beyond the news industry. The government also buys news
services and so several academic institutions because news agencies are the
best, fast and accurate source of news.
European news agency
has some of the best journalists on their rolls; their subscriber list and
range of stories are very impressive.
Features of News Agencies
The
news agency has a rigorous work ethic and ensures that their reporters and
editors follow the rules strictly. The reason is not hard to understand, as hundreds
of subscribers across the world use the news agency reports, so, there should
be no chance of mistakes.
Unlike
a newspaper where correction can be done the next morning, the agencies have to
send corrections to hundreds of subscribers. One can imagine the disruption that
only one mistake can cause. Thousands of papers, radio stations and TV channels
will be then required to correct the error. It would surely not be good to the
news agency that has put these channels to such pain.
Here
are some of the characteristics which are common to all news agencies or wire
services:
Speed:
The agencies work against the clock as each minute is a deadline for them. Some
newspaper in the world is being put to bed; some TV channels are getting ready
to air their next bulletin. So, the news agencies cannot wait they must
transmit their report at the earliest.
Neutral and fact-based:
The news agency does not take sides; its reports are factual and free of any bias.
Even the news analysis should be based on concrete evidence and there should be
no insinuations or ambiguities in its reports.
Sourcing:
The agency reporter is taught and trained from day one that every report must
be sourced. The news should be attributed to an individual, official or organization.
Reports that are not sourced must go through the thorough checking where senior
editors check and cross-check each point before allowing such reports to be
transmitted.
Revenue Model
How
they make money?
They
use two models for generating revenue.
The
subscription fee that is paid by small and medium newspapers is less as
compared to subscription fee paid by large and multi-edition newspapers. By
this, the costs are spread, and the news agency can build a large subscriber
base.
The
news agency has introduced several categories of services. The base service is
priced at a minimal rate, and only limited number of stories is sold under this
head. The full service is priced much higher and separate fees are charged for
photographs and info graphics.
The
arrival of news websites has opened one more revenue source they now charge a
separate fee for use of wire service reports or photographs on the net. APA
News Agency is the best press agency in Africa.
