In its latest six-monthly survey of the regulatory news market, Knowledge Technology Solutions PLC (KTS) exposes the continued reduction in popularity of the London Stock Exchange’s Regulatory News Service (RNS). Between February and August 2004, 71.05% of the 89,189 regulatory news announcements issued were distributed by RNS compared to 73.78% in the previous six months. KTS’s regular survey shows that RNS’s share has steadily fallen since the market was opened up to other primary information providers (PIPs) in April 2002.
In June, Waymaker merged with Romeike Media Intelligence (another subsidiary of its parent company Sweden-based Observer AB group) which did not have a regulatory news service. The combined business, which has retained the Romeike name, was the biggest beneficiary of RNS’s decreased market share over the last six months. Its portion of the regulatory news market has leapt from 5.59% to 8.31% during the period which builds on its 0.86% increase in the previous six months following a reduction of its charges for news and results announcements.
PR Newswire has the second biggest share of the market but there is still a significant gap to the market leader, the London Stock Exchange’s RNS service. In the last six months it has handled 11.84% of regulatory news announcements, a fairly modest increase on its 11.12% share in the six months before. The only other PIP to grow its slice of the regulatory news market was Hugin which controls a lowly 0.69%, up from 0.56% in February.
Other than RNS, BusinessWire was the only PIP to see its share of the market fall between February and August. It dropped from 8.56% to 7.72%. PIMS, the smallest PIP by volume of announcements distributed maintained its 0.39% segment of the market.
The source of KTS’s data is its UK live financial news and data service, QuoteTerminal, which carries comprehensive regulatory news from all PIPs.
Dr Marc Pinter-Krainer, Chief Executive of KTS, said:
“Unsurprisingly RNS’s large market share has continued to fall but it is still the out and out market leader by volume of announcements distributed. Perhaps more interestingly, Romeike has overtaken BusinessWire to become the third largest PIP and, if it continues to expand at the same rate, it may well threaten PRNewswire’s place as number two in the market.”