Certainly not dead for professional service firms, the press release very much has a role. Value the advisor whose well crafted press release can create significant press interest, especially on complex issues.
The CIPR’s State of Public Relations data from the past six years records media relations as the profession’s dominant activity by agency and in-house practitioners alike. The press release is much maligned and abused as a format of content but it’s well understood. It’s a fundamental part of content marketing and public relations that is deeply embedded in organisational communication.