Thomson Reuters is expected to raise the price of dozens of data and media products by as much as ten percent early next year, a move the company says is well-within predictable operating cost adjustments that are intended to provide better services to their clients.
The price hike was reported by Waters Technology and confirmed in a statement issued by a Thomson Reuters spokesperson last week.
The company says the price hike — as much as 10 percent for legacy and new products alike — will “provide ongoing enhancements to products and services with a modest, predictable price increase,” according to a spokesperson. The price increase is “well understood and anticipated,” the spokesperson said.
Clients, though, appear frustrated that Thomson Reuters has yet to provide them with an itemized list of which products are affected and at what price.
“There is a lot of disgruntlement in the industry because you don’t know what price you’re paying – there are only percentages,” a European market data manager told Waters.
A financial manager based in the U.S. said trying to find out which prices were increasing was “like pulling teeth.”
The price increase will go into effect on January 1, 2015.
Waters Technology: Thomson Reuters preps 2015 fee hike