“Is using paper out of style? There are a lot of advantages to making things digital but that doesn’t have to make paper obsolete. In this episode of the Legal Toolkit, host Jared Correia talks to Ed Walters [CEO of Fastcase] about the role of print mediums in law. They reexamine when to use paper versus digital mediums; both printed paper and digital copies have their own quality and characteristics that are useful in different cases. Ed also nerds out about font and classic printing methods, which is useful if you want to make your printed documents beautiful.” Transcript and audio broadcast. — Joe
Category Archives: Publishing Industry
With an adjusted operating margin of 19.2% and an underlying growth rate of 11%, RELX Group’s LexisNexis expects strong profit growth based on stable revenue for 2018. 83% of reported revenue comes from electronic and face-to-face. Print revenue continues to decline.
Source: RELX Group’s LexisNexis
Underlying revenue growth for Legal in 2017 was in line with the prior year, with continued efficiency gains driving strong underlying operating profit growth.
Underlying revenue growth was +2%. The difference between the reported and underlying growth rates reflects the impact of exchange rate movements and portfolio changes including the acquisition of Ravel Law, the disposal of several print and services assets, and the final exit from the Martindale Hubbell joint venture.
Underlying adjusted operating profit growth was +11%. The increase in operating profit margin reflects ongoing organic process improvement and decommissioning of systems which, together with currency movements, more than offset a lower profit contribution from joint ventures and other portfolio effects.
Electronic revenues saw continued growth, partially offset by print declines. The roll-out of new platform releases across our US and international markets continued, with broader datasets and the continued expansion of early stage legal analytics. The usage migration of US legal customers onto Lexis Advance is now substantially complete.
US and European markets remained stable. Other international markets continued to grow well.
2018 outlook: Trends in our major customer markets are unchanged, continuing to limit the scope for underlying revenue growth. We expect underlying profit growth to remain strong.
H/T to Gary Price’s InfoDocket. — Joe
From the Feb. 8, 2018 press release for Thomson Reuters’ Q4 and full-year financials:
Q4 results for Legal:
Revenues increased 1% to $881 million.
•Recurring revenues grew 3% (75% of total)
•US Print revenues declined 7% (14% of total)
•Transactions revenues declined 1% (11% of total)
Adjusted EBITDA increased 6% to $314 million and the margin increased to 35.6% from 34.3% due to the impact of the severance charges incurred in the fourth quarter of 2016.
•In constant currency and excluding the severance charges from the prior-year period, adjusted EBITDA declined 3% and the margin decreased by 150 basis points.
Full-year results for Legal:
Revenues increased 1% to $3.4 billion.
•Recurring revenues grew 3% (76% of total)
•US Print revenues declined 6% (13% of total)
•Transactions revenues declined 6% (11% of total)
Adjusted EBITDA increased 4% to $1.3 billion and the margin increased to 37.7% from 36.6%. The increase was driven by the impact of severance charges incurred in the fourth quarter of 2016, higher revenues and savings from ongoing simplification initiatives.
•In constant currency and excluding the severance charges from the prior year, adjusted EBITDA was up 2% and the margin increased 30 basis points.
Bob Ambrogi is joining LexBlog as publisher and editor-in-chief of a new arm of the company, one that “will make legal news, information and analysis more easily and intuitively accessible to legal professionals and the public and that will shine a light on the many bloggers who are writing all this.” More at Bob’s LawSites post. Congrats and good luck. — Joe
More than 60 years of U.S. laws are now published online and accessible for free for the first time after being acquired through a purchase agreement with William S. Hein & Co, Inc. The Library has made available the main editions and supplements of the United States Code from 1925 through the 1988 edition here.
H/T to beSpacific. — Joe
by Sarah Lamdan and Yasmin Sokkar Harker
A recent Intercept article listed the data corporations vying to build ICE’s Extreme Vetting surveillance system. The list of companies signing on to this project includes LexisNexis, a go-to product for legal and business research, news, and public-records searching. LexisNexis is a ubiquitous library resource. It can be found on public use computers and webpages in public, academic, and private libraries across the nation. For librarians in the legal field, especially, LexisNexis is an often unavoidable product, as it is one of two major research systems for the law.
Civil liberties activists and artificial intelligence (AI) experts quickly responded to the news by writing a letter, en masse, to IBM’s CEO, condemning the company’s potential participation in the ICE program. The AI experts decried the program as being “tailor-made for discrimination”, as it is meant to determine and evaluate an applicant’s probability of becoming a positively contributing member of society, as well as their ability to contribute to national interests and predict whether an applicant intends to commit criminal or terrorist acts after entering the United States. These types of programs have not been proven to be effective, and in other cases, have falsely labelled individuals as criminals or security risks. This program is not totally dissimilar to IBM’s role in the Holocaust as the statisticians and data-gatherers behind massive deportation and roundup lists. Librarians should be active participants in the conversation about the ICE project to build a system for surveillance and deportation.
Librarians are advocates and activists for privacy rights and the protection of personally identifiable information in surveillance, standing up against recent-anti-muslim Executive Orders and making it clear that libraries and information are for everyone. Librarians know that privacy and the ability to do research without fear of surveillance are the cornerstones of intellectual freedom. We have historically been active in the fight for civil liberties, even going to jail to protect our patrons from intrusive government surveillance.
Librarians are also invested in the ethical use of information. The ACRL Framework for Information Literacy emphasizes the role of “using information, data, and scholarship ethically” and the AALL Legal Research Competencies and Standards states that a successful legal researcher “distinguishes between ethical and unethical uses of information”. The Boulder Statement on Legal Research Education specifies that legal research instruction should include “an ongoing examination of professional standards, including the identification of ethical responsibilities.” Given this focus on ethics, librarians should explore and publicize the ethical implications of a system that would use personal data in a way that technology experts believe will falsely identify people as posing a criminal risk and expose those individuals to serious repercussions.
Critical information literacy, or understanding the source of information and the roles information providers have in society at large, is also a cornerstone of the library profession. As librarians, we must investigate the source of LexisNexis data. While many librarians are pleased by LexisNexis push-of-a-button dossiers on potential clients and library users are tickled that they can use LexisNexis products to track down ex-beaus and high school classmates, we cannot ignore the rotten roots from which this personal data springs. As of 2006, LexisNexis had the world’s largest electronic database for public-records related information. Along with Accurint, a huge public records database, LexisNexis purchased Seisint, a post-9/11 creation whose MATRIX system combines commercial and government records to enable the quick creation of “suspects” or surveillance targets. Seisint, and its MATRIX system, were condemned by civil liberties activists as a tool to propel the nation towards a “surveillance society.” It is incumbent upon librarians to understand and build awareness about the products we provide to the public. Especially if our patrons are likely to be harmed by ICE surveillance, we cannot, in good conscience, counsel them to use products under the LexisNexis umbrella to conduct research in our libraries.
As library organizations discuss ways library professionals can advocate for intellectual freedom, democracy, and equality, we should begin by grappling with how to react when our major database providers engage in massive surveillance projects with the government. It is an opportunity for us, as professionals to put our ethical standards and critical information literacy practices to practical use. As the gatekeepers for the databases and platforms that we use for research, librarians have an obligation to honor privacy and civil liberties in their libraries, and to stand up to research product companies helping ICE to build supersystems for “extremely vetting” citizens and noncitizens alike.
Editor’s Note: The above post was originally published on RIPS Law Librarian Blog, a publication of the Research, Instruction, and Patron Services Special Interest Section (RIPS-SIS) of the American Association of Law Libraries, on December 5, 2017. It was removed from the blog on the “advice of AALL General Counsel” as stated here. The authors asked to publish their post on LLB and I am happy to provide a means for this very important contribution to see the light of day. — Joe
On Free Government Information, James Jacobs observes that the automatic spending cuts in the GOP’s tax plan could decimate the GPO because its revolving fund for FY18 could be cut $2 millions in 2018 with additional cuts for 10 years. “$2 million doesn’t sound like a lot of money, but GPO only requested $8,540,000 for the revolving fund for FY18. That’s a 25% cut! The revolving fund pays for improvements to GPO’s FDsys (and its successor system, govinfo) as well as other essential IT projects and things like enhancing the cybersecurity of GPO’s IT systems and other necessary physical infrastructure projects.” “With passage of this ‘tax cut’ bill, Jacobs wrote “GPO’s demise is no longer hypothetical. What will FDLP libraries do in that case? Does GPO have a formal succession plan or escrow arrangements (key components of a Trusted Digital Repository audit!)? And what will FDLP libraries do to maintain critical access to and preservation of government information going forward?” — Joe
CRS report: Government Printing, Publications, and Digital Information Management: Issues and Challenges
From the summary of Government Printing, Publications, and Digital Information Management: Issues and Challenges (Nov. 8, 2017 R45014):
In light of the governance and technological changes of the past four decades, a relevant question for Congress might arise: To what extent can decades-old authorities and work patterns meet the challenges of digital government information? For example, the widespread availability of government information in digital form has led some to question whether paper versions of some publications might be eliminated in favor of digital versions, but others note that paper versions are still required for a variety of reasons. Another area of concern focuses on questions about the capacity of current information dissemination authorities to enable the provision of digital government information in an effective and efficient manner. With regard to information retention, the emergence of a predominantly digital FDLP may raise questions about the capacity of GPO to manage the program given its existing statutory authorities.
These questions are further complicated by the lack of a stable, robust set of digital information resources and management practices like those that were in place when Congress last considered current government information policies. The 1895 printing act was arguably an expression of the state of the art standard of printing technology and provided a foundation which supported government information distribution for more than a century. By contrast, in the fourth or fifth decade of transitioning from the tangible written word to ubiquitous digital creation and distribution, the way ahead is not as clear, due in part to a lack of widely understood and accepted standards for managing digital information.
This report examines three areas related to the production, distribution, retention and management of government information in a primarily digital environment. These areas include
the Joint Committee on Printing;
the Federal Depository Library Program; and
government information management in the future.
When Fastcase hired industry veteran Steve Errick this summer, observers knew things were going change. And they have. Fastcase has launched Full Court Press to publish law journals, legal treatises, deskbooks, forms, checklists and workflow tools. First up, RAIL: The Journal of Robotics, Artificial Intelligence & Law. For details, see Bob Ambrogi’s LawSites post. — Joe
In a major coup for both the LexBlog network and Fastcase, Fastcase has integrated the LexBlog network’s bloggers commentaries into Fastcase 7. Now, a Fastcase searcher can access contemporary analysis on legal developments in addition to linkage to HeinOnline’s library of legal periodicals. “We’re pushing hard to add the best secondary sources for our members,” said Fastcase CEO Ed Walters. “The LexBlog network is a platform for some of the nation’s leading experts in law to report and synthesize legal news and developments. And the collection of every day’s LexBlog posts reads like the most compelling legal newspaper in America.” Quoting from Bob Ambrogi’s LawSite’s post. — Joe
According to RNRMarketResearch.com, the legal analytics market is growing at a compound annual growth rate of 32.7% and is projected to grow from $451.1 million in 2017 to $1.858 billion by 2022. But not all legal analytical products are created equally. On the AALL CS-SIS blog, Jonathan Germann demonstrates this by comparing Docket Navigator with Bloomberg Law. The latter comes up lacking. “As information professionals become regular users and gatekeepers of analytics tools, what information transparency is necessary for reliance?,” asks Germann. He proceeds to provide a transparency checklist. — Joe
Over 50% of large law firms license only Lexis or only Westlaw according to Feit Consulting. Some 22% of BigLaw firms with 750+ attorneys have gone solo provider. Michael Feit looks at the duopoly of our very expensive search vendors and the best route for individual firms in One of the largest law firms goes sole provider, does this finally foretell the Wexis monopoly demise in the largest segment?
Feit Consulting has been monitoring the sole provider trend for over a decade. As corporate clients pushed back on research costs, firms were not able to recover costs entirely. The affect on the bottom line pushed some firms to make the decision to go sole provider. The freedom of funds allows firms and organizations to purchase wish-list software and technology to enhance the delivery of legal information. While this has worked for some, the big question is whether it is the right decision for your firm or organization.
H/T to PinHawk’s Legal Administrator Daily — Joe
Here’s how LN chief product officer Jamie Buckley described this development in this Venture Beat story.
“Something that we’re playing with in the lab, we actually have an internal chatbot where you can start asking it questions. It replies with either an answer or what it thinks might be what you’re looking for, and it also helps you filter the results,” Buckley said. “So you might get 100,000 results on the return, but it can help to understand where are some of the differences between the results and then ask you clarifying questions based on that.”
From the July 13, 2017 press release:
Blue360° Media has acquired over 150 law enforcement publications from LexisNexis® Group covering 40 U.S. states. Blue360° Media publishes Law Enforcement Manuals, Code Books, Field Guides, and an Officer Series focused on professional development. With over 170,000 publications ordered each year, Blue360° Media helps new recruits learn the criminal and traffic laws for their jurisdiction, assists seasoned professionals in quickly finding legal changes, and helps department managers institute best practices with guidance on issues such as report writing and passing promotional exams.
“2017 has been a particularly active legislative year, and it is important that our officers remain up-to-date on the ever changing criminal code. At Blue360° we are passionate about serving our men and women in blue, and we seek to keep them safe and successful in protecting and serving in our communities,” said CEO Susan Slisz.
The story is in The Scholarly Kitchen. It’s pretty stunning news, especially after the acquisition of SSRN and the controversy over licensing that occurred shortly after that takeover. So, is the fate of successful open-access scholarly archives to ultimately turn into arms of large corporations? —Mark
From the introduction to this very interesting development:
BOOC is not the answer to the question, ‘What will the academic book of the future be?’ – and it doesn’t claim to be. It is, however, the tangible result of a great deal of consultation, discussion, innovation, and perseverance. It represents some of the issues – contentious, complicated, deep-rooted, emerging, and provocative – that confront everyone who engages with academic publication. It will, hopefully, help deliver some practice-based answers to these issues, and in doing so, move the debates on. In Geoffrey Crossick’s report on Monographs and Open Access (HEFCE, 2015), he talks about the more ambitious ways open access allows authors and reviewers to interact. He talks about an ‘open-ended “living” document’, which is where BOOC takes its inspiration from. BOOC is a community ‘book’: a space where different approaches, different sorts of research, and different perspectives can be presented, read, and analysed together.
H/T to Gary Price’s Infodocket post. — Joe
Reporting for The Street, Kinsey Grant reports that Facebook is preparing to monetize its Instant Articles: “Instant Articles hosts news pieces on Facebook’s mobile app. Instead of operating a subscription service itself to get users on the Instant Articles, Facebook is said to be implementing a paywall after 10 articles on the app. Once a user hits 10 pieces from a particular publisher in a month, Facebook will send him or her to the publisher’s site to sign up for a subscription.” — Joe
Here’s a little postscript to the Apple e-book antitrust case. A failed e-book retailer BooksOnBoard (BOB) sued the publishers in 2014 for antitrust violations, essentially blaming conduct by the five Apple defendant publishers for its failure. BOB purchased e-book inventory from a third-party wholesaler and sold books at a discount via its web site.
BOB claimed that the agency model pricing scheme destroyed its ability to compete in the e-book market, among other injuries. The publishers presented evidence contradicting BOB’s claims. The move to agency model pricing actually increased revenues for BOB. The District Court opinion also mentioned factors such as the inability to link product to dedicated e-readers such as the Kindle or Nook and questionable management practices.