They were going to be nice about it though and enact the crippling price increase over four years in equal installments. We were haughtily told there was no negotiation.
About 2.5 years later I emailed my rep and asked, “What is our minimum spend?” and he replied $1,000 per month.
I then switched to another provider. The data was better, perfectly mapped to our trading platform and required almost no work on our part. It was less than 1/4 the price even before Bloomberg’s crippling price increase went fully into effect.
It took my Bloomberg rep three months to notice we were down to paying our giant reduction of $1,000 per month. He sent me begging emails asking to meet, called me daily, asked why I didn’t tell him so he could negotiate. I didn’t reply to a single thing. Then he started calling and emailing my boss. Who didn’t reply.
I agree - competing with Bloomberg Terminals is going to be very hard. But there are so many people (like me) that literally hate Bloomberg the company and will actively ferret them out of any organization we move to because there are alternatives to Bloomberg products that are actually better in some areas.