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Earlier this year when pulling together the data for our 2019 Optimizing Legal Information Pricing book, we noticed a trend across our AmLaw 200 segment. Some of our most impactful dimensions – Market Power, Penetration, and Importance--resulted in a nearly identical “Top 4” ranking among Lexis and Westlaw ancillary products, 3 of which fall to Lexis currently (Law360, ALM, NYTimes/WSJ) and just one (Practical Law) under Westlaw. Only in the importance ranking does Intelligize bump the NYTimes/WSJ Lexis ancillary product out of the top 4.
Take a look at the details of the top-ten products in our charts below:
As vendors drive tougher bundling packages, particularly for Lexis, the stickiness of the ancillary products is proving to be a key factor in retention.
Michael Feit earned his J.D. from the Loyola University School of Law in Chicago and was an executive at Westlaw before founding Feit Consulting 16 years ago. Feit Consulting partners with law firm administrators and legal information professionals to optimize vendor contracts and the management and delivery of legal information resources by providing leading-edge, customized solutions. Contact Michael at mike@feitconsulting.com