November 2, 2011
Taking the Pulse of WestlawNext Sales
According to Thomson Reuters' 2011 3Q financials released yesterday WestlawNext sales increased by approximately 5,000 customers since 2011 2Q and now represents 46 percent of Westlaw's revenue base. This means since WLN's launch in February 2010 approximately 54 percent of Westlaw revenue is still generated from TR Legal's Classic Westlaw-only subscription base.
Quoting Robert D. Daleo, Executive VP & CFO, from yesterday's conference call:
We continue to see good acceptance of WestlawNext, which is offsetting downward pressure in the core legal research market, especially in large law firms. We now have over 29,000 customers, including half of the AmLaw 100 and more than 25,000 small law firms and 2,400 corporate legal departments. We have and are continuing to invest in WestlawNext, and in order to ensure the return on these investments, we intend to continue selling our product at a premium in the market.
The table below updates the one published at Who is Buying WestlawNext? [JH]
|Quarter||Customers||WLN as % of Westlaw Revenue Base|
|2010 1Q||2,300||Not published|
|2010 2Q||5,700||Not published|