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Loom Pricing – Actual Prices for All Plans, Enterprise Too!

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Joe Benjamin

• May 31, 2023

Loom Pricing Overview

This article will provide you with Loom Pricing, including the pricing for the Loom enterprise plan. Jump below to get to see the cost of the Loom enterprise plan.

What is Loom?

Loom is a video communication platform centered around asynchronous communication. It is a video messaging tool that is used to record video messages that can be instantly shared with colleagues or friends. The key difference between Loom and other similar products is that Loom is a video messaging tool, not a video conferencing tool. Loom is used to record video messages that can be sent at any time. Unlike Zoom, Loom is not a product used to communicate with others simultaneously through video conferencing.

Loom Overview

Loom Pricing

Loom pricing is a tiered model, with more features available to the customer depending on how much the customer elects to pay as part of their monthly plan. There are three tiers of Loom pricing:

• Starter (the most basic package)
• Business (the intermediate package)
• Enterprise (the advanced package geared towards large businesses with many creators)

Loom pricing is geared towards businesses understanding the differences between a Creator and a Creator Lite in Loom. Here are the key differences;

• The Creator role is a paid member role with full video recording capabilities, unlimited videos, and unlimited recording – available on Business. You need at least one paid Creator on the Business plan before adding Creator Lite members. 

Creator Lite

• Creator Lite is a free member role available on both Starter and Business plans. Creator Lite members have basic video recording features with up to 25 videos per member and up to 5 minutes in recording length. Creator Lite is also available on the Business Plan. You can add up to 50 Creator Lite members to your workspace for free.

Loom Pricing Plans

Loom’s pricing plans begin with the Starter plan, which is the most basic package.

Starter Pricing Plan

• Up to 50 Creators Lite
• Up to 25 videos/person
• Up to 5 minutes/video
• Screen Recording and cam bubble
• Instant editing
• Unlimited transcriptions
• Privacy controls
• Viewer insights

The second Loom pricing plan is the Business plan.

Business Pricing Plan

• Cost: $8 per Creator month
• Unlimited Creators
• Unlimited Videos 
• Unlimited recording length
• Custom branding
• Engagement insights
• Embed links in video
• Password protected videos
• Video uploads

Loom Enterprise Pricing 

The final Loom pricing plan is the Enterprise Plan .

• Must have at least 10 users for the Enterprise Plan
• Discounts are available depending on number of seats selected and time to signature
• Unlimited members
• Unlimited videos
• SSO (SAML) and SCIM (Okta)
• Advanced content privacy
• Custom data retention policies
• Activity log export
• Salesforce integrations
• Coming Soon : Zoom Ingestion: feature that takes Zoom videos and ingests them into Loom so you can share the links out.

We’ve recently acquired other enterprise pricing ! Check out Calendly Pricing , Box Pricing , Gong Pricing , Keap Pricing , Airtable Pricing, and Asana Pricing .

Loom Product Comparison vs. Vmaker

Vmaker is one of several competitors to Loom. Vmaker allows users to record a screen, webcam, or both, as well as audio for anyone to access on their own time. Vmaker allows users to record videos on their devices, and annotate, edit, and access videos at anytime from other users.

As far as pricing is concerned, Vmaker is a cheaper alternative to Loom.

• Lite – Free Plan
• Starter – $7 billed monthly or $84/year if the user chooses to bill annually
• Team – $10 billed monthly or $120/year if the user chooses to bill annually

How Much Does Loom Cost?

• Starter Plan is free.
• Business Plan Example for Company X (10 Creators)
• 10 Creators
• 10 Creators * $8/per Creator * 12 months = $960 annual cost .
• Enterprise Plan Example for Company X ( Minimum for Enterprise is 10 Creators )
• 10 Creators * $45/per Creator * 12 months = $5,400 annual cost.

If Loom Pricing is Too High, Check Out These Loom Alternatives

Loom is a great addition to every co mpany but with an annual contract required for paid plans, it may not be the first thing buyers want to commit to. If you’re a startup and looking for a startup sales stack or need to prospect better, check out these options; startup sales stack, Apollo, ZoomInfo Competitors , Salesloft alternatives .

Here are some Loom alternatives:

• Clip by ClickUp

If you’re looking for a full list of Loom alternatives , we have you covered.

Joe Benjamin is the Founder of RevPilots. He has over 12 years of B2B sales and startup experience. His experience runs several categories, including SaaS, Marketplaces, and professional services. His areas of expertise include B2B sales, management, and hiring.

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Loom pricing plans

Admina Team

What is Loom? Basic video recording features

In the following article, we delve into the various pricing plans offered by Loom, a popular video messaging tool utilized by businesses and educators worldwide. By giving detailed insights into each tier of their pricing plans, we aim to enable you to seamlessly understand and select the structure best suited for your needs and budget. Whether you're a student, a small business owner, or a large enterprise, this comprehensive guide offers an in-depth analysis of the costs, benefits, and features of each Loom pricing plan.

Source :Adobe Stock

Loom serves as a multifunctional video recording software, honed to streamline communication for commercial, educational, or personal contexts. It allows users to produce video content either by using a webcam or screen with full video recording capabilities, with flexibility in the chosen recording scope. This expansive capability allows tailored documentation, from comprehensive overviews to focused recordings of select screen areas.

video's interactive nature and viewer engagement. As a cloud-based platform, it provides a streamlined sharing process, supporting disseminations via email or social media platforms, and video password thereby making accessibility a convenience.

What sets Loom apart are its optimal video and audio settings, producing high-definition presentations. The clarity and quality offered through this platform make it a viable replacement for conventional communication mechanisms, boosting productivity and efficiency.

Its video messaging feature adds to the ease of use and versatility, allowing content to be instantly shareable. Simultaneous recording from your camera, microphone, and desktop not only adds layers to the communicative process but makes the outputs immediately accessible through Loom's proprietary technology.

For businesses seeking scalable options, Loom offers an array of pricing plans. Its Starter package, for instance, provides basic video recording features, including up to 25 videos per member and unlimited videos with a recording length of up to 5 minutes. Various subscriptions can accommodate a range of requirements, meaning Loom has the bespoke solution for your communication needs.

How much does Loom cost?

Loom, a video messaging platform, prides itself in offering its users various types of pricing tiers that cater to unique needs and financial capabilities. These tiers encompass the Basic, the Pro, and the Enterprise packages. The company's methodology in pricing goes beyond mere monetary considerations; it significantly leans toward user responsibilities and required specifications.

The Basic package is a free trial largely tailored for users who prefer an introduction to the platform's baseline features without any financial commitment. It’s absolutely free but provides limited functionalities.

On the other hand, the Pro package is primarily designed for users who desire enhanced video messaging capabilities. At a reasonable cost of $10 per month, subscribers gain exclusive access to premium features. These include high-definition video recording capabilities, unrivaled customer support, and ad-free usage with no watermarks, providing a more professional output and a seamless user experience.

Alongside these options, Loom introduces the Enterprise tier. Specifically curated for large organizations requiring advanced compliance and security needs, these paid subscriptions are customized, with price points determined based on the specific features and scale necessary for the organization. Loom doesn't make the pricing for this tier publicly accessible, embracing a quote-based pricing model prevalent in software vendors in line with their enterprise-level subscriptions.

Ultimately, identifying the most appropriate package that harmonizes with one's needs or that of one's company is instrumental. This balance ensures financial resources are optimally utilized, considering you will only be paying for features you find necessary and beneficial.

Loom Starter plan

The Loom Starter Plan is an optimal solution for individuals and smaller teams who are keen on leveraging the potential of video messaging. As a cost-effective, flexible, and comprehensive platform, it presents an affordable yet efficient medium to record and share video material in an effort to streamline communication and boost team productivity.

Built with user-friendly features and an easy-to-use interface, this plan is a versatile tool designed to support the collaboration and communication needs of its users. An impressive range of capabilities is at your call, encompassing the opportunity to capture and access as many as 100 videos or screenshots, further complemented by a multitude of trimming and editing options.

What sets the Loom Starter Plan apart is its exceptional value proposition. Despite being a more pared-down free version than its professional counterparts, it is free of cost, making it an ideal exploratory tool for those interested in testing video messaging as part of their communication strategy. You can use the Loom Starter Plan to your advantage by identifying how video communication can further improve the effectiveness and efficiency of your workflow. Consequently, the Starter Plan offers competent functionality and makes a strong case as a well-packaged option, apt for the deployment needs of smaller teams or budget-constrained individuals.

Loom Business plan

A loom business plan serves as a comprehensive strategy outlining the roadmap to success for a weaving enterprise. In the textile industry, this venture involves producing various woven fabrics using diverse threads and yarns. The blueprint encapsulates a high-level overview of the business and its offerings, underscoring its competitive advantage within its intended market.

An effective loom strategy equally prioritizes all aspects of the operation, strategizing around financial planning, marketing tactics, material sourcing, and the overall scalability of the business. By detailing this all-encompassing plan, it provides a precise and in-depth pathway towards achieving profitability, sustainability, and growth.

Source :Adobe Stock By grasping the ins and outs of this plan, individuals significantly enhance their chances for successful enterprise navigation. This concept of a comprehensive plan is also echoed in the standard Loom subscription for businesses. Priced at $8 per creator per month when billed annually - or $10 when billed monthly - this subscription tier offers access to advanced recording and analytics features for an unlimited number of creators without imposing any limit on the recording length.

Moreover, this subscription tier allows every paying creator to extend their workspace by adding up to 50 paid Creator Lite members free of charge, thereby expanding the scope and reach of their content. This approach mirrors the seamless scalability and potential for growth within the loom business plan, reinforcing the importance of strategic planning and investment in ensuring business success.

Loom Enterprise pricing

Loom Enterprise emerges as a high-value, cost-efficient solution, expertly designed to elevate the collaborative efforts within businesses. Its comprehensive suite offers advanced, security features and superior analytics, with a price of only $10/user per monthly, charged annually. This subscription delivers appreciable advantages, including single sign-on, data exports, and exclusive customer support, ensuring every penny spent is a worthy investment. Furthermore, it provides an affordable choice for big teams by scaling pricing in line with the size of the business. With Loom Enterprise, teams can access top-tier productivity tools without breaking the bank, thus promoting efficient business operations.

Loom's enterprise package goes beyond its Business tier, offering additional administrative features and enhanced data policies, specially designed to cater to large organizations with numerous creators. Its free plan also includes Salesforce integration and priority support with a personalized account manager. To avail the Enterprise plan, businesses are expected to consult with the Sales team for a bespoke quote that meets their specific usage needs.

While requiring negotiation with sales is common for many SaaS tools, it can pose a hurdle for prospective customers seeking price clarity without engaging in sales discussions. Loom Enterprise, however, offers free trials as a solution, giving a chance to test the waters before making a commitment.

How to get a discount on Loom pricing

Implementing reductions to your Loom subscription can substantially alleviate expenditure. To secure a Loom discount, enlist for their email notifications, which commonly disseminate exclusive deals and promotions to subscribers. The alternative annual payment option is also noteworthy — offering significant savings compared to monthly charges. Stay vigilant for potential promotional sales during festive periods or unique events. Lastly, the referral program offers a clever indirect discount strategy. By referring individuals who subsequently become paid Loom members, one can accrue credits redeemable against your own subscription.

Conversely, collaborating with InVertice might provide assistance in facilitating a Loom contract reduction, among other software solutions within your repertoire. In effect, software pricings are typically flexible. Through strategic negotiation, it's possible to achieve a less costly plan.

So, how can software contracts be efficiently negotiated? Here are some key strategies.

In negotiating a Software as a Service (SaaS) contract, equip yourself with competitor pricing insights. For example, examination of contractual conditions proposed by other video communication providers like BombBomb or Zoom might create an opportunity for Loom to match or exceed a competitive deal.

Aside from billing expenses, review what your prospective vendors offer in relation to renewal terms, length of notice periods, monthly and annual subscriptions, customization, as well as maintenance and support. With these variables in mind, negotiation could result in a distinctive arrangement tailored to specific business requirements — potentially at a more economical price than initially quoted for purchase or renewal.

In conclusion, Loom's pricing plans offer flexibility and a range of features to cater to different needs and budgets. Whether you're a student needing basic features, a small business seeking more comprehensive tools, or a large enterprise requiring advanced capabilities, Loom has got a pricing plan for you. This guide provides an intricate understanding of what each plan entails, enabling you to make informed decisions best suited to your requirements and financial capacity. Trust Loom to transform your video messaging experience with their user-friendly platform and affordable pricing.

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September 19, 2023

Loom Pricing Explained

Nowadays, the best way to communicate online is through video.

Short-form content reigns supreme. Long-form informative content is an absolute must. Fewer people aren't taking the time to read content. Instead, they want bite-size videos to give them answers and entertainment.

As a creator or business with a message, you, too, must get your message across clearly and quickly, which is key. 

That's where Loom comes into the picture. It's a tool that lets you share ideas through short videos. Don't worry; using Loom is as easy as clicking a button.

Loom is not just about making videos. It aims to improve how we communicate. But here's the question: how much will Loom cost? 

They have different plans suited to different needs. We'll run through these plans and explain what each one brings to the table. All right, let's get started.

Overview of Loom Pricing

When it comes to pricing, Loom keeps it simple . There are three plans on offer, each with its own tools and features. Let's make sense of these plans.

First up, we have the 'Free' plan. As the name suggests, it doesn't cost you a cent. It's a great way to dip your toes in the water and see if Loom fits you well.

Then, there's the 'Business' plan. This one comes with extra tools and features. For $12.50 per month, you're getting access to advanced recording tools and better video editing functions. It's a jump from the Free plan, but you're getting a lot in return.

Finally, we have the 'Enterprise' plan. This custom plan is designed for businesses with specific needs and larger teams. The pricing is custom, meaning it depends on your needs. If you're working within a large organization, this is the plan for you.

But let's not stop here. We'll dive deeper into each plan's feature set to give you a better picture.

Loom Free Plan

Diving into the world of Loom doesn't necessarily mean digging into your pockets right away. Their Free plan offers functionalities that act as a stepping stone for beginners.

Here's the breakdown:

Video Limit:  The Free plan allows you to record up to 25 videos per user (but unlimited screenshots). This smart limit provides enough room to test, learn, and perfect your video recording skills. All without splurging on the paid versions.

Video Length:  Each video can be up to 5 minutes long. Now, while that may not seem like a lot of time, remember, with Loom, the key is to convey your message succinctly and effectively. And trust us, a lot can be said in 5 minutes.

Screen Recording & Cam Bubble:  You can record your screen and use the cam bubble, a floating webcam window in your video, to add a personal touch. This makes it easier to walk your viewers through the process you're demonstrating.

Video Trim & Stitch:  Made a mistake in your video? No worries. The trim and stitch feature lets you cut out the unnecessary parts and sew the video back together. This ensures your message remains crisp and clear.

Unlimited Transcriptions:  Every video you make is transcribed automatically. This means you can easily add captions or search through your video content.

Video Privacy Controls : Privacy matters. With the Free plan, you can set your video visibility, ensuring your content is seen by the right eyes. However, even on the free plan, you get up to 50 Creator lite members. That means even large teams can take advantage of this free plan.

Viewer Insights:  Once your video is out there, knowing how it's doing is essential. Viewer Insights lets you see how many people viewed your video, giving you an idea of how your content is being received.

There are also a ton of integrations available, even on the free plan. These include:

Just remember, you only get up to 720P recording quality and no basic experience-enhancing features. This means no custom recording dimensions, no DND mode, no drawing tools, no mouse emphasis, or blur tools.

That said, the Free plan is a great starting point to explore the world of Loom. It offers a range of useful features that make video creation and sharing an easy task, even for beginners.

Loom Business Plan

Ready to take things up a notch? If you find value in Loom and its offerings, the Business plan might be your next step.

For $12.50 per creator per month, here's what you're getting:

Unlimited Videos:  The Business plan lets you say goodbye to video limits. You can now create as many videos as you like, allowing you to communicate your messages whenever needed.

Unlimited Recording Length:  Need more than just five minutes? No problem. The Business plan provides you with unlimited video recording length. That's easy deep-diving into your topics without any worry about time.

Loom AI add-on availability:  Loom AI is one interesting tool you might want to consider. Although it comes at an additional cost, it can enhance your video creation process. This includes features like automated highlight detection and more.

Remove Loom branding:  Want to make your videos feel more like your brand? The Business plan lets you remove Loom branding from your videos.

Embed Links in Video : This feature lets you add relevant links directly to your video. This helps make it easier for viewers to find linked resources.

Upload & Download Videos : Created a video outside of Loom ? Need your video in a hard copy? The upload and download video feature comes in handy.

Password Protected Videos:  Work on sensitive topics? Don't worry about unwanted access. You can now password-protect your videos, ensuring only the intended recipients get to view them.

The notable differences in this plan also include:

Better content management systems behind the scenes

DND mode to hide distractions

The ability to upload your own videos

Custom recording dimensions

A blur tool as well as mouse emphasis

An integrated drawing tool

Better user engagement insights (and you can export this data)

Priority support from Loom themselves

HD recording quality options all the way up to 4K

Custom video thumbnails as standard

That's impressive, especially considering that it's the first premium plan Loom has to offer. There's no doubt about it, this is one comprehensive service.

Loom Enterprise Plan

Are you leading a larger team or organization with more specific needs? Then, the Loom Enterprise plan might be the right fit for you.

First things first, you'll have the benefit of unlimited videos and unlimited recording length. Exactly like the Business plan. This gives you endless room to create and share ideas without any boundaries.

But what else does the Enterprise plan offer over the Business plan? Let's dive deeper:

Loom AI Add-on:  By choosing the Enterprise plan, you can take advantage of the Loom AI add-on. This enhances your video content with automated highlights detection and more. This can prove to be a game changer when diving through large amounts of video content.

Single Sign-On (SSO) and System for Cross-domain Identity Management (SCIM) : Identity Management becomes a breeze with SAML-based SSO and SCIM. This ensures secure, hassle-free access to all your team members.

Advanced Content Privacy:  The Enterprise plan lets you control your content fully. Not only can you password-protect videos, but you can also house them within your organization's boundaries. Loom has a ton of advanced privacy settings to help with this.

Custom Data Retention Policies:  Want to control how long your data is retained? You can set your own retention periods, giving you more control over your organization's data.

Salesforce Integration:  If you're a Salesforce user, here's some good news. The Enterprise plan supports Salesforce integration. This allows you to capture and share videos within the Salesforce environment. You can even import content straight from Zoom.

Generally, the Enterprise plan has everything the Business plan has to offer. That includes 4K recording quality, all the editing tools, and premium engagement insights. You'll also get a ton of admin control.

The real differences come with how you manage your team, how your content is organized and permissioned, and the level of premium support you have access to.

You'll also notice that the Enterprise plan offers haven't mentioned pricing. This is because it's worked out individually based on your specific needs. This gives you flexibility in cost as well as features. 

In choosing the right plan, consider your needs, team size, and each plan's features. Then, take the leap. After all, Loom is all about simplifying your communication and, in turn, driving your business forward.

Notable Features in Loom Plans

Now we've done a deep dive into the pricing and offerings of each Loom plan, let's circle back and highlight the star features that set Loom apart. Each of these features brings something unique to the table, providing an edge to your video creation and sharing experience.

Unlimited Videos and Recording Length

Once you move past the Free plan, there's no need to worry about how many videos you can record or how long each of those videos can be. Loom provides unlimited videos and recording lengths in both the Business and Enterprise plans. 

This is the perfect feature for anyone with a significant volume of content to share or complex topics. If you need a more detailed discussion, this is ideal.

Advanced Recording and Editing Tools

Trimming out unwanted parts, stitching video segments together, and embedding links in the video. These are all tools to polish your videos to perfection. 

They ensure your message comes across clearly, ordered, and interactively. All to increase engagement and comprehension on the viewer's end.

Loom AI Add-on

Though not included in the plan cost, the Loom AI add-on is a notable extra. Don't manually browse through video content. Instead, use Loom AI to identify highlights, enhancing navigation and accessibility. This speeds up your creation process, allowing you to produce more content. This means faster growth and more reach!

Improved Privacy and Custom Data Retention

From setting video visibility to password-protecting your videos, Loom plans go out all out to ensure your content privacy. With the Enterprise plan, you can set custom data retention periods. This gives you complete control over your organization's data lifecycles.

Salesforce Integration

The Enterprise plan's ability to integrate with Salesforce can be a game changer. Especially if your organization uses Salesforce extensively. This integration allows sharing and capturing videos within Salesforce. All to make communication much more seamless.

Remember, each feature addresses a key challenge or improves an essential aspect of video-based communication.

As you decide on a Loom plan, consider your business needs and pair them up with the features that meet those needs. 

With these tools and features in your armory, you'll communicate better and drive your business forward. All with more potent and persuasive video content than ever before.

Wrapping it up

We've explored the ins and outs of Loom plans and dived into some of their notable features. It's clear that these packages provide great value and useful tools for businesses and content creators.

However, Tella has emerged as a compelling contender. Famed for its feature-rich, creator-focused video recording and editing solution. 

Creating, editing, and sharing compelling videos swiftly and efficiently is critical in today's digital world. Every marketing professional or business owner understands the power of a well-crafted video.

Tella features include clip-based recording, automatic subtitles, and tons of editing tools. They give you an alternative and a step up from the norm . 

Remember, the goal is to communicate effectively and create maximum impact – and Tella seems to be a tool that can help you achieve just that.

Ready to explore?

Pause for a moment to reflect on your current video communication needs. Are there gaps in your video creation strategy that Tella could help fill? Or maybe you're just curious how Tella could streamline your processes?

Why not give it a try? 

Embarking on a free trial with Tella gives you firsthand experience of how it could work for you; it's the perfect way to test the waters. Don't just take our word for it; start your Tella journey today.

Remember, while tools and plans can facilitate your goals, it's how you utilize them that creates real results. 

So, here's to creating engaging, impactful videos that drive your business forward with Tella in your toolkit!

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Loom Pricing

Loom pricing comes in three options. A Free Starter plan, a Business plan of $12.50/creator per month billed annually, and an Enterprise version. Based on the plan you choose, you get fewer or more features. But I can tell you that the features provided are useful even in the Starter plan. So, let’s see the main differences between Loom pricing plans.

Loom Starter

• Up to 50 Creators Lite
• Up to 25 videos/person & 5 mins/video
• Key Features:
• Screen recording & cam bubble
• Instant editing
• Unlimited transcriptions
• Privacy controls
• Viewer insights

Loom Business

• Unlimited Creators
• Unlimited recording length
• Unlimited videos
• Everything in Loom Starter, plus:
• Custom branding
• Engagement insights
• Embed links in the video
• Password protected videos
• Video uploads

Loom Enterprise

• Unlimited Members
• Unlimited videos & recording length
• Everything in Loom Business, plus:
• SSO (SAML) and SCIM (Okta)
• Advanced content privacy
• Custom data retention policies
• Activity log export
• Salesforce integration

Loom Free Deals

Loom vs. similar products.

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Movavi Screen Recorder

The recording experience is enhanced as you invest more in the Loom pricing plans. Thus, the Business plan gives you several premium features such as Transcription and closed captions, Filler word removal, Custom Branding, and Engagement insights. As for the number of creators, video storage, and recording length.

To find out the offer of the Enterprise plan, you have to contact the Loom team. It integrates all of the features designed for the starter and business plan, including extra ones, such as advanced content privacy, the beta version of Salesforce integration, and others.

Is there a free version of Loom?

Yes, Loom has a free version, and they say that Loom Starter plans are always free. The key features that make the free version useful are screen recording & cam bubble, Viewer insights, Team Workspace, and instant editing.

The free plan provides 5 minutes of screen recording time. In addition, you can record as many videos as you need, but you can only access 100. If you exceed the limit of 100 videos, the last ones will be deleted. You get the standard video quality in the basics, but as the pricing plan progresses, you get up to 4k.

Moreover, the screen recording software comes with another Loom for Education plan. So if you are a student, teacher, university, or school, you have 100 % free access to unlimited screen recording time. All you have to do is register into the platform with the institutional email address and verify your account via a form provided by Loom.

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Loom pricing: How to get a discount on your purchase or renewal

Aimee Manning | APR 25, 2023

With more than 200,000 customers and a valuation exceeding $1.5bn , there’s no denying that Loom has become one of the leading players in the video creation market, making it a tool worthy of consideration.

But with companies under immense pressure to minimize SaaS spend , getting the best possible price for your plan is no doubt a high priority.

So the question is, how much does Loom cost? And is it possible to get a discount on your subscription?

Here’s everything you need to know about Loom’s pricing.

How much does Loom cost?

While the company’s paid plans start from $8 per user, per month, Loom also offers a free, albeit limited, version of its software, as well as a more feature-rich free version for teachers at schools, universities and other educational institutions.

When it comes to pricing transparency, Loom is pretty forthcoming with its costs, but like many software vendors, it operates a quote-based pricing model for its enterprise-level subscription.

But what about the other plans? How much do they cost?

Loom pricing plans

To understand the different Loom pricing tiers, you first need to get to grips with the different user roles that are catered for – Creator and Creator Lite.

So, what’s the difference?

A Loom ‘Creator’ refers to a paying user that can enjoy full video-recording functionality, whereas ‘Creator Lite’ users are those that have free access to Loom’s basic feature set – 25 videos per person, each up to five minutes long.

Loom Starter

As mentioned, Loom’s free ‘Starter’ plan is suited for users with more limited deployment needs, offering basic recording capabilities for up to 50 Creator Lite users.

Loom Business

The standard paid Loom subscription is the Business plan, costing $8 per Creator per month when billed annually, or $10 when billed monthly. This tier offers advanced recording and analytics features for unlimited Creators, with the functionality to make an unlimited number of videos at any recording length.

Each paying Creator can also add up to 50 Creator Lite members to their workspace for free.

Loom Enterprise pricing

Loom’s enterprise-level subscription offers additional administrative and security features, suited to large organizations with many Creators. This plan offers everything from the Business tier in addition to further data policies, integration with Salesforce, and priority support with a dedicated account manager.

To obtain pricing for its Enterprise plan, companies are, however, required to get in contact with the Sales team for a quote that is tailored to their usage needs.

While this is the norm for most SaaS tools, it still poses a challenge for buyers like yourself looking to get a frame of reference on pricing, without having to engage in multiple sales conversations.

So, how can you find out what other companies are paying?

How to find out the cost of Loom Enterprise

One way is to source information by searching online.

An article from RevPilots , for example, lists the Enterprise plan cost at $45 per user, per month, or $540 per user per year. It stipulates that organizations require a minimum of 10 paying users to be eligible for the Enterprise plan, meaning that the minimum price that businesses should expect to pay for this tier of subscription is $5,400 per year.

The thing is, there’s no guarantee that the information you find online is up-to-date, or even accurate — and the lack of any further accounts of what companies are paying further illustrates the issue of pricing transparency in SaaS .

In fact, our data shows that Loom has a low pricing parity score , meaning that there are inconsistencies between what companies with similar needs are paying for their subscription. This suggests that not all enterprise-level subscribers pay the $45 flat fee — and pricing may be negotiable.

So, how can you ensure that you’re paying the best possible price?

How to get a discount on Loom pricing

Vertice can help you to negotiate a discount on your Loom contract, as well as other solutions within your software portfolio. The truth is, software prices are rarely set in stone — and with the right negotiation strategy, you may be able to secure a lower price on your plan.

So, this leads us to the next big question: how do you effectively negotiate a software contract ?

These are some of our top recommendations.

Make use of competitor comparisons

One way to negotiate a SaaS contract is to come equipped with pricing insights for your chosen vendor’s competitors. For example, if you research the contract terms offered by other providers in the video communications space, such as BombBomb or Zoom , you may be able to incentivize Loom to match or beat a deal you’ve been offered.

As well as the billing cost, consider what your shortlisted vendors are offering in terms of:

• Renewal terms
• Notice period length
• Customization
• Maintenance and support

By negotiating with these variables, you may be able to bargain a bespoke deal tailored to your business needs — even at a better price than you were originally quoted for purchase or renewal.

Leverage price benchmarking data

Competitor comparisons may provide you with some leverage, but the reality is they will only get you so far. The most powerful leverage is intel into what other companies similar to your own are actually paying. When you negotiate with this data, vendors are more likely to match any discounted price points or contract terms that have been offered to your peers.

But as we’ve discussed, it can be challenging to find this data online — and even then, it’s often unreliable.

So how can you find reliable and accurate price benchmarking data ?

In short, by talking to Vertice.

Let Vertice negotiate on your behalf

Vertice has access to the pricing and discounting data from over 13,000 global SaaS vendors. Our expert negotiators leverage this intel to procure the best-value software contacts for our clients.

By acting as an intermediary between your business and the software provider, we create a sense of impartiality that can help facilitate productive negotiations . This way, we can help reach an agreement that both you and your vendor are satisfied with — saving you the time, money and stress associated with software negotiations.

To see how much you could save on your annual SaaS spend, use our free cost savings analysis tool today — or take a look at our vendor database and access exclusive pricing insights for thousands of providers.

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Home / Screen Recording Software / Loom / Loom Pricing

Updated on: May 20, 2024

95 % SW Score The SW Score ranks the products within a particular category on a variety of parameters, to provide a definite ranking system. Read more

Loom Pricing

Record and Share Videos for Work Communication

• Free Trial Available
• Starts at $8.0. Offers Free-forever and Custom plan.
• Alternatives
• Integrations

• + Add to Compare
• Try for Free

Credit Card Required to Get Started

Pricing Options

Freemium ( Limited Features )

Premium Plans ( Subscription )

Pricing Plans

Starter Free

• Up to 50 Creators Lite
• Up to 25 videos/person
• Up to 5 mins/video
• Screen recording & cam bubble
• Viewer insights
• Team Workspace
• Instant editing

Pro $8.00 $8.00 per user / month

• Unlimited Creators
• Unlimited videos
• Unlimited recording length
• Everything in Starter, plus
• Transcriptions & closed captions
• Filler word removal
• Custom branding
• Engagement insights

Enterprise Custom

• Everything in Business, plus
• Advanced content privacy
• Salesforce integration (beta)

Screenshots of Vendor Pricing Page

Pricing Insights for Screen Recording Software

The Average Cost of a basic Screen Recording Software plan is $9 per month.

Loom pricing starts at $8/month , which is 11% lower than similar services.

18% of Screen Recording Software offer a Free Trial Allows users to try out the software for a limited period before making a purchase decision. , while 62% offer a Freemium Model Allows users to access basic features at no cost. .

How much does Loom cost?

• Pro at $8.00 per user per month.

Loom offers a Free Plan with limited features. They also offer an Enterprise Plan for their product.

Learn more about Loom pricing .

Does Loom offer a free plan?

Yes, Loom offers a free plan.

Compare Loom Pricing Against Competitors

Free software alternatives to loom.

98 % SW Score The SW Score ranks the products within a particular category on a variety of parameters, to provide a definite ranking system. Read more

4.8 66 user ratings

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79 % SW Score The SW Score ranks the products within a particular category on a variety of parameters, to provide a definite ranking system. Read more

Loom Alternatives

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Loom Features

Screen recording features.

• Features: The Feature Score % is calculated using the weighted average method, where core features hold more weight in the final calculation. Read more 96%

Video Editing

Audio Capture

Screen Capture

File Sharing

Social Network Sharing

Image Editor

Cloud Storage

Collaboration

Speech to Text

Video Annotations

Loom Integrations

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Loom Pricing: Everything you need to know on Plans, Pricing, and Features [2022]

Table of Contents

Loom is a video messaging tool that is growing in popularity because it has something for everyone. Loom pricing ranges from free for a starter package to paid monthly plans that include enterprise-level functionality.

Loom lets you quickly record videos and share them with your friends and family. Use Loom to show your baby’s first steps or share the news about a new job. Or use it at work to make asynchronous communication more visual and interactive. Marketers can use it to demo new products or teachers to record lectures.

What is Loom?

Loom is a video messaging application that offers a new way to communicate with coworkers, friends, and family. Instead of sending texts or voice messages, Loom allows you to share your own videos.

Loom’s Main Features

Loom’s main feature is its ability to record and send video messages. The app also offers a number of other features, such as the ability to add text, images, and audio files to videos, transcribe videos, add audio with your phone, and make screencasts for presentations.

Who uses Loom?

Loom for individual users.

Individuals use Loom to record videos for friends and family to share news and update each other on their lives.

Loom for Remote Teams

Loom has been particularly popular with remote workers and distributed teams, as it provides a way to quickly and easily share ideas and experiences.

Loom for Education

Loom is also used by educators to create lectures and instructional videos. Teachers can also assign students to create their own videos. Loom has a free option for educators.

Almost anyone can find a use for Loom – which is why it has become popular so quickly.

Does Loom have a free version?

Loom offers a free version with basic features and two paid subscription plans that include additional storage and features. The business plan has a 14-day free trial. Loom also offers a free educator account for teachers and professors.

What are the Loom pricing plans?

Loom has three primary pricing plans: Loom Starter, Loom Business, and Loom Enterprise. A free plan for educators is also available.

Loom Starter

Loom Business Pricing Plan with Free Trial

• Includes a 14-day free trial
• $96 a year if you pay annually
• $10 a month if you pay monthly

Loom Enterprise Pricing Plan

• The Loom Enterprise plan pricing is unique to each account, so you will need to contact Loom for the specific pricing.

What are the differences between the different Loom pricing plans?

Loom free starter plan.

The starter plan is a good fit for families or groups of friends who want to make and share videos. The Loom Starter plan is free, but limits users to 25 video recordings per person with a maximum length of 5 minutes each. Another limitation is that you cannot protect videos with a password.

What is included in the Loom Starter Plan?

• Up to 50 Creator Lite Members
• Up to 25 videos per person
• Up to 5 minutes per video
• Instant editing
• Screen recording with camera bubble option
• Privacy controls
• Unlimited transcriptions
• Viewer insights

Loom Business Plan with Free Trial

Loom’s Business Plan includes everything in the Starter Plan, plus some features designed for businesses. The business plan is good for marketing and sales teams. Or any remote team that wants more visual communication.

This Loom pricing plan is also a good fit for individual users who want unlimited videos, unlimited video length, or password protection.

What is included in the Loom Business Plan?

• Everything included in the Loom Starter Plan
• Unlimited Creators
• Unlimited videos
• Unlimited recording length
• Custom branding
• Engagement insights
• Embedded video
• Password protected videos
• Video uploads

Loom Enterprise Plan

Loom enterprise users get all the features available for the starter and business plans, plus additional features like single sign-on (SSO), advanced security options, and integration with Salesforce.

What is included in the Loom Enterprise Plan?

• Everything included in the Loom Starter Plan and Business Plans
• Unlimited Members
• Activity log export
• Advanced content privacy
• Custom data retention policies
• Salesforce integration
• Single Sign On (SSO – SAML)
• System for Cross-domain Identity Management (SCIM – Okta)

Loom Educator Plan

Loom is free for teachers and instructors with a verified educational email account. Schools, universities, and educational institutions can qualify for a free Loom video messaging account so that their students can use Loom for class work.

What is included in the Loom Educator Plan?

• Up to 45 min video recording length
• Unlimited Viewers
• Personal Library
• Shared Library
• Class Library
• Screen & camera recording
• Drawing tool & mouse emphasis
• Custom recording dimensions
• System audio
• Calls-to-action
• Emoji reactions
• Viewer Insights
• Password-protected videos

How to setup Loom

Setting up Loom is quick and easy, and can be done in just a few simple steps.

1. Go to loom.com and click “Sign Up Free”.

2. Enter your name, email address, and create a password.

3. Verify your email address by clicking the link in the verification email sent from Loom.

4. Once your email is verified, you can start using Loom!

How to use Loom

There are three ways to record videos with Loom: through the desktop app, the Chrome extension, or one of the mobile apps. Loom has apps for both Android and Apple iOS.

Recording with the Desktop App

1. Download the desktop app from loom.com/download.

2. Open the app and sign in with your Loom account credentials.

3. To record your screen, click “Screen & Camera”. Or, if you just want to record your camera, click “Camera Only”.

4. To record sound from your microphone, make sure “System Audio” is turned on.

5. When you’re ready to start recording, click “Record”.

6. To stop recording, click “Stop” or press “Ctrl + Shift + S” on your keyboard.

7. Your video will automatically be saved to your Loom Library. From there, you can watch, download, or share your video.

Recording with the Chrome Extension

1. Install the Loom Chrome extension from the Google Chrome store.

2. Once the extension is installed, click on the Loom icon in your browser toolbar to open the Loom recording window.

3. To record your screen, click “Screen & Camera”. If you just want to record your camera, tap “Camera Only”. If Chrome asks, enable your camera.

4. To record sound from your microphone, check that “System Audio” is turned on. If Chrome asks, enable your microphone.

5. When you’re ready to start recording, click on “Record”.

Recording with the Loom iOs App or Loom Android App

1. Download the Loom app from the App Store (for iOS devices) or Google Play Store (for Android devices).

3. To record your screen, tap “Screen”. If you just want to record your camera, tap “Camera Only”.

5. When you’re ready to start recording, tap “Record”.

6. To stop recording, tap “Stop” or press the power button on your device.

Sharing Your Loom Video

Once you’ve recorded and saved your video, you can easily share it with others by sending them a link. To do this:

1. Go to your Loom Library and click (or tap) on the video you want to share.

2. Click (or tap) “Share” and then “Copy Link”.

3. Paste the link into an email, messenger, or any other communications tool you’re using.

4. When your recipient clicks on the link, they’ll be able to watch your video.

Viewing Insights

Loom provides valuable insights about who’s watched your videos and how long they watched for. To view your video insights:

1. Go to your Loom Library and click on the video you want to see insights for.

2. Under the “Video URL” heading, click “Insights”.

3. Here, you’ll see how many people have viewed your video, as well as how long they watched it for. You can also see when each person views the video.

4. To see more detailed information, such as where viewers watched the video from and what device they were using, click “See More Insights”.

What are the main uses of Loom?

Loom is mainly used for recording videos of your screen, webcam, or both at the same time. It’s popular with people who need to create tutorials, share family videos, or record marketing videos. It’s also used by remote teams to collaborate on projects. Additionally, Loom can be used by help desks to provide support to customers.

Loom videos allow team members to communicate more easily and efficiently. Loom can be used for video conferencing, recording presentations, or sharing screens. It’s also useful for leaving asynchronous video messages for team members instead of waiting for a live meeting.

Loom for Marketing

Loom is frequently used to drive product marketing, scale content marketing, streamline team collaboration, and promote knowledge sharing. Loom videos are perfect for every step of the customer journey, from onboarding to product promotion. With Loom, you can easily create high-impact videos that will empower your customers and help them get the most out of your product.

Alternatives to Loom

If you’re looking for alternatives to Loom, plenty of options are available. Clip, Camtasia, VEED, and Vidyard are all great alternatives that offer similar functionality. Each has its own unique features and pricing plans, so be sure to compare them before choosing the right one for your needs.

Loom lets you quickly record, edit, and share videos. Loom pricing includes three levels: free, business, and enterprise. Each pricing plan includes progressively more features. Plus, Loom provides a free version for educators.

Loom Pricing and Plans

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Loom is a powerful video messaging tool that allows users to communicate more effectively through the use of instantly shareable videos. With Loom, you...

Loom is a powerful video messaging tool that allows users to communicate more effectively through the use of instantly shareable videos. With Loom, you can capture your screen, voice, and face to create an instantly shareable video in less time than it would take to type an email. Loom is available on Mac, Windows, iOS, and as a Chrome extension, making it accessible for a wide range of users and across use cases, from recording Zoom calls, webinars, tutorials, workspaces, and maybe gifs. The tool allows you to share videos to Slack channels and is perfect for relaying more information than just screenshots.

Loom offers a variety of membership plans to cater to different user needs:

• Free Plan : This plan is free for personal use and includes key features such as screen and webcam recording, up to 5 minutes of recording length, and unlimited videos.
• Starter Plan : Priced at $8 per month, the Starter Plan offers unlimited recording time, priority customer support, and video editing features.
• Business Plan : For $10 per user per month, the Business Plan offers all the features of the Starter Plan plus advanced collaboration tools, engagement insights, and SCIM provisioning.
• Enterprise Plan : The Enterprise Plan offers custom solutions for large organizations and includes features such as SSO, SCIM, and a dedicated customer success manager.

Choosing the right Loom plan depends on your specific needs:

• The Free Plan is ideal for personal use or for those just starting out with screen recording software.
• The Starter Plan , a.k.a. creator lite, is perfect for professionals who frequently use video for communication and require more advanced features.
• The Business Plan is designed for small to medium-sized teams that require collaboration tools and advanced insights.
• The Enterprise Plan is best suited for large organizations that require custom solutions and dedicated support.

Loom has received positive reviews for its ease of use, functionality, and affordable pricing plans. Users have praised Loom for its intuitive interface, high-quality video recording, and efficient customer support. The ability to create unlimited videos, even on the free plan, is a feature that many users appreciate.

Loom also offers a special plan for educators. With Loom for Education, qualified educators get unlimited recordings and access to premium features for free. The education plan includes up to 45 minutes of video recording length, a drawing tool, mouse emphasis, and custom recording dimensions. This plan is perfect for teachers at schools, universities, or educational institutions using video messaging for classroom work.

• Start Recording : Click the "Start Recording" button on the Loom desktop app or Chrome extension.
• Choose Your Recording Options : Select whether you want to record your screen, webcam, or both. You can also choose your audio input.
• Record Your Video : Click the "Record" button and start your presentation. You can pause or restart your recording at any time.
• Finish and Edit Your Video : Once you're done recording, click the "Finish" button. You can then preview your video and make any necessary edits.
• Share Your Video : After you're satisfied with your video, you can share it via a link or embed it on a webpage.

If you’re looking to improve your overall video and make their custom branding look comparable to a pro’s, you should look to the best tools. Speechify is one example.

Speechify is the leading AI text-to-speech app with millions of downloads on Chrome, iOS, Android, and Mac. It’s a SaaS tool perfect for social media and improving tutorials. It can turn text into a natural-sounding voice, making it a perfect companion to Loom for creating engaging and accessible video content. You can use Speechify to create transcriptions of your Loom videos, making them more accessible and SEO-friendly.

While Loom is a powerful tool, some users have noted that the free version has a limited recording length of 5 minutes. Additionally, some users have reported occasional technical issues with the software, such as difficulties with the webcam or microphone. However, Loom's customer support team is always ready to assist with any issues.

Based on user reviews, many believe that Loom is worth the cost due to its ease of use, high-quality video recording, and efficient customer support. Loom offers a free plan, and paid plans start at $8 per month.

Yes, Loom is available for Mac, Windows, iOS, and as a Chrome extension.

How to cancel Synthesia

ChatGPT 5 Release Date and What to Expect

Cliff Weitzman

Cliff Weitzman is a dyslexia advocate and the CEO and founder of Speechify, the #1 text-to-speech app in the world, totaling over 100,000 5-star reviews and ranking first place in the App Store for the News & Magazines category. In 2017, Weitzman was named to the Forbes 30 under 30 list for his work making the internet more accessible to people with learning disabilities. Cliff Weitzman has been featured in EdSurge, Inc., PC Mag, Entrepreneur, Mashable, among other leading outlets.

Hit record and Loom AI will do the rest

Share flawless videos without lifting a finger. Loom AI auto-enhances your video and transforms your script into a doc.

Record and share your videos 60% faster

Communicate with confidence knowing Loom AI magically refines, edits, and produces a text doc for your video

Auto titles, Summaries, Chapters

Engage your viewers before they click play

Filler word and Silence removal

Send a crystal clear message every time

auto create issues, docs, and messages

Turn your video into a doc to speed up tasks

Build and ship quicker with AI workflows

Ready-to-share documents in one click. Loom AI workflows help you complete important tasks, fast.

Write a document

Document your work to scale knowledge

Achieve fast alignment and accelerate your sprints when you use AI workflows to craft accurate code and process docs. AI workflows follows the steps outlined in your video to create pull request descriptions, SOPs, and more.

Create an issue

Report bugs in Jira or Linear in a few clicks

Save time reporting bugs and filing Jira and Linear tickets. Loom can take your video's content and instantly populate all the essential context in a ticket. Now your devs have what they need, and you have extra time.

Write a message

Auto-add context with your Loom link

Loom instantly generates written messages for you to share alongside your video link, whether you're sending a loom via DM or an email.

New features coming soon

Loom AI is just getting started — we're dreaming up and working on new powerful features every day!

Auto-capture dev tools

Instantly add console logs, browser info and more to your Jira or Linear ticket

AI voices and avatars

AI text-to-speech and facial avatars allow you create custom videos at scale, without the need to re-record

Connection to Confluence and more

After Loom AI workflows transforms your video into a doc, you can open it directly in your collaboration or project management tool

Auto-add visuals to step-by-step guides

Record how to do something, then let Loom AI instantly add video clips, gifs, or screenshots for each step

What customers are saying

96% of Loom users say the AI Suite features are already extremely or very valuable to their workflows

@loom launching ai video titles into new recordings is an absolute game changer and time saver. Thank you. <3

David Shawe Designer/Owner , Invisible Building

If you want an example of a company that’s integrating AI to 10x the seamlessness of their product, just look at Loom.

Ryan Carr Founder , Tailwind

The AI generated chapters in Loom is the kind of feature I always wanted but didn’t know.

Christophe Pasquier CEO , Slite

Woahhhh!! Just recorded a Loom and Loom AI immediately generated an accurate summary and table of contents for my video! Amazing!! 🤯🤩

Michelle Bakels Program Director , G2i

Loom AI not only saves time and effort but also makes your videos more accessible and engaging for your audience. 🎥✨

Edie Clarke Remote Video Producer , VirtuallyInSync

Paid Plans : Admins of accounts on paid plans (Business or Enterprise) can add Loom AI to their current plan for $4 creator/month (billed annually) or $5 creator/month (billed monthly). You can purchase the Loom AI suite here .

Starter Free: Users on a Starter Free plan will need to upgrade to a paid plan first in order to add Loom AI. You can upgrade and purchase the Loom AI suite here .

Yes, anyone in a Starter free or Business plan workspace is provided complimentary AI uses. A notification in app will appear once you've exhausted your complimentary AI usage. Education plans do not have access to the AI suite. Not all Enterprise plans will automatically have AI access but can speak to sales here for trial. 

The Loom AI suite costs $4 creator/month (billed annually) or $5 creator/month (billed monthly) for the number of seats in your workspace. Every creator or admin in your workspace will have access to the AI features.

You can purchase the Loom AI suite here .

Lots of companies are adding AI to their products. At Loom, our No. 1 priority is to build AI features that further our mission to unlock effective communication. The Loom AI suite — both current and upcoming features — are built to help you:

• Get Work Done Faster — 67% of users do not edit the auto generated title, gaining efficiency benefit without investing additional time. The Loom AI Suite reduces time spent packaging and sharing Looms after recording; so you can send a polished, high quality video quickly.
• Increase Productivity — 73% of people said it is “extremely or very valuable” to their workflows today. AI Suite reduces the need to re-record Looms so you can make your first take your best take.
• Communicate Effectively — 18% more viewer engagement. AI Suite adds context instantly and automatically — title, summary, chapters, and tasks — to ensure your message is clear and viewers can quickly consume and respond.

OpenAI receives transcript data as text files in order to generate titles and summaries. OpenAI does not receive full videos or audio.

We only send data to trusted third-party systems that are subject to strict privacy and security controls. Our third-party sub-processors are subject to appropriate agreements with Loom and/or its Users to secure and protect the confidentiality of data. Furthermore, we have executed DPAs with our subprocessors.

More details and Loom's list of sub-processors can be found here . Loom's AI Terms can be found here .

The $5 McDonald's meal is making a grand comeback in June — but only for a month

• McDonald's plans to launch a limited-time $5 meal.
• In first-quarter earnings, the company's leadership highlighted how inflation has affected customers.
• Other fast food chains are also worried about affordability.

McDonald's is looking to launch a $5 meal in the US in a move to bring back price-sensitive customers .

The meal includes four items, people familiar with the matter told Bloomberg and Restaurant Business . Customers would choose between two of the chain's signature burgers — a McChicken or a McDouble — and get four-piece McNuggets, fries , and a drink. The $5 promotion would last for a month, Bloomberg reported.

The deal will start on June 25, The Wall Street Journal and other outlets reported.

The discussions about the new deal come three weeks after the fast food giant's first-quarter earnings call, where leadership highlighted how customers are increasingly price-sensitive.

"I think affordability is clearly an area where consumer expectations are heightened," McDonald's chief financial officer Ian Borden said on the call. "Obviously, they're getting hit ," by inflation, he added.

The company previewed a value meal on the earnings call without any specifics. CEO Chris Kempczinski said McDonald's has local value meals around the US, but no standard national offering like competitors do.

Related stories

A $5 meal would be a stark drop from current prices, especially in higher-cost cities, according to a Business Insider analysis.

A meal consisting of the same four items — a McChicken, fries, a drink, and four-piece chicken nuggets — costs $18.26 in downtown New York City. In downtown San Francisco, the McChicken version costs $16.15, and the burger variant costs $17.75.

The new bundle would be priced lower than a Happy Meal, which starts at $6.39 in downtown Manhattan.

The company's stock has fallen about 7% year-to-date as investors worry about rising costs and intensifying fast-food competition.

Fast-food chains across the US are grappling with fewer orders from customers who no longer find their meals affordable. Wendy's, Shake Shack , Starbucks and Burger King parent Restaurant Brands International have all said in their latest earnings call that they will exercise caution on prices.

"We're going to stay careful on pricing," Gunther Plosch, Wendy's CFO, said in its earnings call earlier this month. "I don't think we're going to get too greedy."

Fast-food giants have also been hit by California's new minimum $20 hourly wage for limited-service restaurants. Franchisees that have raised prices are worried they may lose customers to sit-in dining chains like Chili's and Applebee's , which are not subject to the wage hike.

McDonald's did not respond to an immediate request for comment sent outside standard business hours.

Watch: US vs India McDonald's | Food Wars

• Main content

CentraCare Gets First Approval for $800,000 Retirement Plan Deal

By Jacklyn Wille

CentraCare Health System Inc.'s $800,000 class settlement with workers covered by its retirement plans received initial court approval, paving the way for resolution of a challenge to the cost and performance of certain plan investments.

The deal is slated to benefit about 25,000 people covered by a pair of CentraCare retirement plans since June 2016. The settlement amount represents about 21% of the plan participants’ “best-case recovery” after most of their legal theories were dismissed on the pleadings, according to a settlement motion filed in the US District Court for the District of Minnesota.

Judge John R. Tunheim granted preliminary ...

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US overhauls electric grid to make way for more renewables

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Reporting by Valerie Volcovici; additional reporting by Nichola Groom; editing by Jonathan Oatis, Chris Reese, Susan Fenton and Marguerita Choy

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Valerie Volcovici covers U.S. climate and energy policy from Washington, DC. She is focused on climate and environmental regulations at federal agencies and in Congress and how the energy transition is transforming the United States. Other areas of coverage include her award-winning reporting plastic pollution and the ins and outs of global climate diplomacy and United Nations climate negotiations.

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Red Lobster files for bankruptcy after closing restaurants, endless shrimp debacle

The bankruptcy plan hands control of red lobster to lenders which have agreed to $100 million in financing..

By Bloomberg Wire

9:09 AM on May 20, 2024 CDT

Seafood restaurant chain Red Lobster filed for bankruptcy, succumbing to onerous leases, high labor costs and a disastrous unlimited shrimp promotion.

The Orlando, Florida-based company filed for Chapter 11 protection on Sunday, listing assets and liabilities of $1 billion to $10 billion each in its bankruptcy petition. The filing allows the company to keep operating while it works out a plan to repay creditors.

Red Lobster plans to hand control of the company to its lenders, who have agreed to provide $100 million in financing to support the chain through bankruptcy.

Related: Dallas’ final 2 Red Lobster restaurants have closed

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The restaurant chain had been deteriorating for several years, with diners down around 30% since 2019, Chief Executive Officer Jonathan Tibus wrote in court papers. While the business had shown signs of recovery since the pandemic, sales declined sharply in the last 12 months, Tibus wrote. It lost $76 million in the 2023 fiscal year.

Inflationary pressures have kept customers from dining out and higher labor costs strained the company’s finances. A “material portion” of Red Lobster’s leases were priced above market rates. In May 2023, the company changed its $20 “Ultimate Endless Shrimp” from a limited-time offer to a permanent promotion, costing it $11 million as diners devoured expensive plates of shrimp.

Red Lobster traces its roots to a single restaurant in Lakeland, Fla. in 1968. It expanded rapidly in the 1970s and 1980s, and developed a loyal following for its Cheddar Bay Biscuits . The company now operates more than 550 restaurants in the US and Canada.

The restaurant chain, which has been owned by seafood supplier Thai Union Group Plc since 2020 , serves 64 million customers per year and purchases 20% of all North American lobster tails, as well as 16% of all rock lobsters worldwide.

Thai Union and Red Lobster had been in talks with lenders for an out-of-court deal that would hand the creditors 80% of the company, but discussions fell through. Lenders made additional loans worth $20 million to Red Lobster in February, but they weren’t willing to put in more money without support from the owner, according to court papers.

Red Lobster said it’s also investigating the shrimp deal, including how it was marketed in restaurants and if Thai Union “exercised an outsized influence” on shrimp purchases.

The chain employs 34,000 people in the US and an additional 2,000 in Canada. Last week, it shuttered 93 underperforming stores.

- Reshmi Basu and Claire Boston

Bloomberg Wire

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