Tinybeans Group Limited announced a new paid subscription model for parents of its leading app and web platform. The new model is set to launch in full across the platform in calendar Fourth Quarter 2021. To drive subscriptions, Tinybeans plans to release several product and platform enhancements through the second half of calendar 2021. As previously announced, Tinybeans' strategy is to build growing consumer subscriptions with recurring revenues to complement its growing advertising revenues. These changes will significantly improve the value proposition for subscribers, improve the user experience, and are designed to promote subscription conversion. As part of these changes, Tinybeans will move from its current model--a free experience for parents, with the option of upgrading to the paid "Premium" memories photo sharing subscription product--to an initial free trial experience. On completion of the initial free trial period, subscribers can transition into the new, more comprehensive subscription model, "Beanstalk". Beanstalk will strive to become the must have subscription promising to be the go-to resource for all things parenting. Parents using the current free service will be offered a free trial period to evaluate the product features before choosing to subscribe to the paid Beanstalk experience. Family members invited by parents will not require their own subscription to access their memories. Existing Premium subscribers will be migrated to the new Beanstalk service. Tinybeans expects a small reduction of monthly active users in the short term based on this change, however, expects no reduction of advertising revenues as it relates to this. Beanstalk is at the core of Tinybeans' ongoing platform evolution and consumer subscription revenue growth strategy, as it promotes recurring consumer revenue growth. Additionally, the new subscription model allows for more native integration of advertising placements throughout the platform, facilitating further ad upgrades and the continued growth of advertising revenues. By forming this strong foundation, Tinybeans plans to continually optimize its offerings and leverage greater optionality to layer in new features over time.