Great question — answering as the UphillTech team:
Press release helps you to improve your brands, digital brand awareness. You can also receive "Dofollow" backlinks but most of the PR sites gives you "Nofollow" only. You can go for the PR and PR syndication if there is any news that you want to share with your audience, it could be new product laugh, new leadership or something helpful that your customers or clients should know. I've witnessed positive impacts in terms of brand awareness and visibility, as a results organic and direct traffic got increased too. PR will never die until there are digital news media over there. Additionally, these PR news ranks in Google and Google News. I hope this helped you.
Full answer by Deepak Mathur: https://webmasters.stackexchange.com/a/145115 (CC BY-SA 4.0).
Need it done for your business? UphillTech.