Spotify is once again increasing the monthly subscription prices of its premium plans.

The price of Spotify’s Individual plan will increase by $1 per month to $11.99, while the cost of Spotify’s Duo plan will jump $2 per month to $16.99. The monthly rate of Spotify’s family plan will rise $3 per month t0 $19.99. Spotify’s discounted Student plan will remain unchanged, priced at $5.99 per month.

The price changes will go into effect for existing Spotify subscribers over the next month. New subscribers will be subjected to these rates effective immediately.

Spotify said that the price hikes will allow the company to “continue to invest in and innovate on our product features and bring users the best experience.” The streaming music service last increased its prices in July 2023.

This is a developing story…