Path ups its monetization efforts with new $14.99 per year premium model

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Path has announced this morning that it has a mobile app update on the way that will add deeper privacy controls that will allow users to choose who they share moments with. It also adds a premium model and other improvements.

And that’s the big news here—this new subscription option. The social network is looking to ramp up its monetization efforts with a $14.99 per year Premium subscription service that gives users full access to stickers, filters and more…

Here’s a nice overview of the premium model from Path’s blog:

“Along with unlimited access to all Path-exclusive filters and stickers in the Shop, Premium users will also get early access to new Shop items. Premium is available for purchase as an annual subscription on iOS and Android for $14.99; a 1-month subscription is available for $1.99 on Android or a 3-month subscription on iOS for $4.99.

This is only the beginning of our Premium model.  Please stay tuned as we add additional features to Premium that will allow you to further customize and personalize your Path.  In the meantime, we so appreciate your support in our commitment to provide a safe and private place for you to share.”

Additionally, the upcoming 3.2 Path update also adds a new ‘Private Sharing’ feature which will allow users to pick who they want to share a moment with. You’ll access the feature by tapping on the Lock icon within the share screen.

Taking this a step further, users will also be able to add friends and family to an ‘Inner Circle’ list. Once setup, you’ll be able to quickly share a moment with this select audience by tapping the Star icon from within the sharing screen.

For those interested, Path version 3.2 should be available for both iOS and Android shortly. You’ll be able to find it in the App Store, for both the iPhone and iPad, for free.