Bloomberg Law entered the legal information market striding to a different drumbeat, and they continue to be delightfully contrarian. First they shunned the traditional cost recovery model for online research, then they added a raft of BNA content at no additional cost to subscribers. Last week they quietly retreated from their debut pricing plan.
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.
Although Bloomberg is famous for their inflexible approach to standard pricing (everyone pays the same per attorney price), at least they can be counted on to be flexible in response to market demands. And more importantly everyone gets the benefit of the new pricing model – even those to whom Bloomberg has
no legal obligation to offer a price reduction.