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Digital twin creation platform Matterport has overhauled its subscription plans to offer added flexibility in how accounts are leveraged by clients, according to a May 16 blog post shared by the company with Inman.
Listing agents who use the popular digital tour software to market homes can now “fine-tune the number of space on your plan,” according to the company.
“Since launching our current plans four years ago, our customer base has grown substantially — and so has their need for more flexibility. A consistent theme we’ve heard from our customers is the need to provide more options for how many active spaces are available with each plan while providing a smoother, cost-effective upgrade path as your requirements grow,“ said Matterport.
Much-needed changes were made according to account level. Customers were lumped into buying what seemed like random blocks of home scans with big gaps between the number of digital twins allowed.
Whereas the “Starter“ level once allowed for the creation of only five spaces — or house scans — it now allows for five, 10, 15 or 20.
Previously, users at the ”Professional” account could purchase 25 or 50 spaces. That’s now changed to 20, 25, 30, 40, 50, 75, 100, 125 or 150.
The “Business,” or enterprise, level enabled the capture of either 125 or 300 spaces. It has been changed to 100, 125, 150, 200 or 300 spaces.
Naturally, prices are going up, but not considerably. Starter accounts are up $2 to $11.99 per month, Professional is now $75 monthly and Business shifted to $342.
The company’s growth has also pushed it to include more collaborators per account, Matterport said. Starter plans can have up to three, Professional accounts come with 10 users, and Business plans allow 50, double the previous allowance’s growth.
Matterport also separated the capture of large spaces from small ones. For example, a studio apartment and a sprawling commercial warehouse were considered the same “active space,” each counting as one.
Largely a result of the capture technology of its new camera the Pro3, any space with 201 or more scan points — camera positions within a space — will be treated as multiple active spaces. Anything between 201 and 500 scan points will count as two spaces and those between 501 and 1,000 will take up three spaces. Beyond that, it will account for four active spaces.
Matterport also changed its policies on archived spaces, introducing a few to reactivate spaces. The company also increased the data attachment capacity for Professional and Business levels. Respectively, capacity has been pushed to 50 GB and 500 GB, which will allow users to include more data within the tags and note, such as PDFs and images.
On a quarterly earnings call last week, Matterport told shareholders, analysts and media attendees that total revenue for the first quarter of 2023 (Q1) was $38 million, a 33 percent increase from Q1 last year.
Despite predicting last quarter that subscription numbers would be flat to start the year, total subscribers actually increased to 771,000, up 37 percent year over year. That jump boosted first-quarter subscription revenue to $19.8 million, up 16 percent from this time last year. Of its total subscriber count, 704,000 are free accounts and 67,000 are paid. Free accounts increased in Q1 by 11 percent since quarter three of 2022 and paid grew by 5 percent.
In the summer of 2022, Matterport scooped up VHT Studios, a company that specializes in providing brokers and agents with high-quality photography and other marketing services. The companies didn’t announce the terms of the deal. But they make clear that Matterport remains on track to offer more services to more sectors of the real estate market, including residential, multifamily, retail and hospitality.
There are also two additional “plus” accounts under Professional and Business, changes to which can be found on Matterport’s website.
