Michael Feit offers some tantalizing preliminary results from Feit Consulting’s 2019 Legal Information Vendor Market Survey. The survey found that 54% of Am Law 200 firms use either Lexis or Westlaw but not both. Firms that have gone sole search provider are more satisfied with the remaining vendor.
In another post, Feit reveals how satisfied firms are with their vendors generally. 70% of firms are moderately/extremely satisfied with Westlaw. Wolters Kluwer scores a 55% moderately/extremely satisfied response, Lexis 32% and Bloomberg 20%. In view of the satisfaction ratings, the preliminary results for firms considering cancellation at the next contract renewal is not surprising. 46% of firms are considering canceling Bloomberg, 33% of firms with Lexis, 14% of firms with Westlaw and 13% of firms with Wolters Kluwer are considering cancellation of those vendor contracts.
As 2019 commences, it looks like Westlaw and Wolters Kluwer are market leaders in their respective search markets — general for Westlaw, and specialist market for Wolters Kluwer. I wonder how much Lexis and Bloomberg’s recent product tying changes have contributed to their dismal performance in Feit Consulting’s 2019 Legal Information Vendor Market Survey.