Errick noted that LexisNexis sells their e-books directly on their own web site, via Overdrive Lending solution and through Amazon. Since Lexis introduced e-books and print titles for sale on Amazon, over 40% of their sales through Amazon is e-book sales. Law student texts, practice titles in Criminal Law, Family Law and Property Law are among the leading categories sold through Amazon.
What’s The Strategy?
Errick described this acquisition as part of a strategy build authoritative commentary and analysis to to be integrated with Practice Advisor . Practice Advisor is in head to head competition with Thomson Reuters which recently acquired Practical Law Company. Both companies are making major plays in the lawyer productivity space. Both PLC and Practice Advisor are designed to help lawyers enhance efficiency ie reduce the amount of time billed for drafting documents.These products provide templates, workflows, commentary and checklists.The addition of high quality analytical materials will be a key component in the development of this product.
It was only two month ago that Thomson Reuters announced they shifting their focus away from being a content provider to being a solutions provider. This was followed up in February with an announcement that they had sold Foundation Press. Foundation was the premier casebook publisher of books with the distinctive navy blue buckram covers with gold tooled lettering which curved the spines of many a law student for generations. In early February Thomson Reuters has completed the sale of our Law School Publishing business to Eureka Growth Capital.