You can cancel your Loom Business subscription at any time. 👇
For Business plans, this can be done from the Plan & Billing tab of your Workspace Settings. Your Loom Business access will continue for the remainder of the billing cycle. Once canceled, you can check how long you have left on Loom Business in your Workspace Settings.
Here's how to downgrade/cancel:
Navigate to your Workspace Settings from the left sidebar of your account.
Open the Plan & Billing tab.
Under your account, click Manage Subscription to go to the downgrade flow.
Select I'm sure I want to cancel to confirm.
That's it! You'll still have access to the premium features until the end of your billing cycle but you won't be charged anymore upon renewal. If you change your mind, you can always upgrade and manage your payment methods on your Plan & Billing page.
If you're on a Business Plan Free-Trial you won't see the Manage Subscription button, but you, of course, won't be charged after the free trial period ends.
The follow will occur:
- You will have a 5-minute recording limit.
- You will have a 25-video limit. If your video count exceeds 25 you will still have access to all your videos. However, you will not be able to create a new recording until you upgrade or delete videos to move under 25 videos.
- You will no longer be able to see Engagement Insights for videos in the downgraded Workspace.
- You will no longer have custom branding, all video share pages will be restored to default settings.
- You'll lose access to Business premium features, see the list of premium features here.
- You'll still have access to your spaces previously created, you just won't be able to create any new spaces.
- If you had set up Single Sign-On (SSO), it will be disabled. You'll be able to resume logging in via the same method you were using prior to SSO being enabled. If you did not have an account prior to SSO is enabled, you'll need to reset your password.
Workspace members will remain in the workspace and retain the same roles (Admins will remain the same). However, all workspace members will be limited to the recording, editing, and sharing capabilities of a Creator lite role. You can have up to 50 Creator Lites in a Starer-free Workspace.
Cancellation occurs at the end of your billing
Example: You are on a monthly subscription and are billed on the 10th of every month. You canceled your Business subscription on February 12th but upgraded a member to a Creator on February 15. On January 10th you will be charged a prorated amount for the Creator added because the upgrade was never paid for. Your plan will also be canceled Jan 10 so you do not receive any further charges.
Questions, comments, concerns? Contact us here.
Happy recording! 🎥 😄