For uninterrupted service, Magisto Premium, Professional and Business subscriptions automatically renew at the end of the billing cycle. If you would like to stop the subscription from renewing, you can easily cancel your subscription and stop renewing payments in your account settings.
1. From the Home page, click your account photo in the top-right corner of the page.
2. Click “Account Settings”.
3. Find the section labeled Account type and click “Cancel Subscription”.
4. Confirm your choice to cancel the the subscription (complete all steps) and stop it from renewing.
NOTE: If your subscription was purchased on iTunes, you will need to cancel it through the Manage Subscriptions option in your iTunes app. In case the subscription was purchased via Google Play, you will need to cancel it via Google Play. Go to the relevant article - link