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.

(Emphasis added.)

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
2010 3Q	9,000	18%
2010 4Q	15,000	31%
2011 1Q	18,500	34%
2011 2Q	24,000	41%
2011 3Q	29,000	46%