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June 11, 2012
BLaw Responds to Push-Backs by Lowering Pricing in Multi-Year Licenses
Quoting from Jean O'Grady's Dewey B Strategic post, Bloomberg Blinks On Pricing: New Lower Pricing Schedule Hits the Market:
When was the last time a vendor sent you a letter advising you that they had just lowered your contract price? In unison we shout "never!" This is something that I think we can file in the "when hell freezes over" drawer.
And yet.... that exact thing happened last week Bloomberg Law subscribers were advised that Bloomberg Law had lowered the contract price for years three through five in previously executed multi-year contracts. True to their "everyone gets the same deal" philosophy, law firms which are currently in negotiation will be receiving the revised pricing schedule as well.
(Emphasis in the original.)
Remember, BLaw's five-year license includes opt-outs at the end of year 2 and year 4 with progressive per seat rate increases that approached the full retail rate in year 5. Even before seeing how many law firms would have opted out of firm-wide plans, something I believe would (and still may) happen, BLaw has cut back its pricing to increase its BigLaw firm adoption rate.
To date, there have only been two BLaw press releases about uber BigLaw firms signing up for BLaw. More to follow? [JH]