Spotify is increasing the price of its premium ad-free service in more than 50 countries, Sky News reports.

The company, which has more than 200 million Premium subscribers, said the move will result in a $1 increase for U.S. plans.

This means that the single plan will now start at $10.99, the double plan at $14.99, the family plan at $16.99, and the student plan at $5.99.

A total of 53 countries will be affected, including the US, the UK, Spain, Australia, Canada and France. Spotify said users who already have a subscription will be notified one month before the price changes take effect.

The premium music streaming company’s price change comes at a time when other streaming services have also raised prices due to increasing pressure from investors to boost profitability after years of rising user numbers.

Apple and Amazon’s service prices have risen this year, and YouTube also raised the prices of its monthly and annual premium plans in the US last week – the first time since the subscription service launched in 2018.

We remind you that in recent months Spotify has laid off hundreds of employees and restructured the podcast unit it built with billions of dollars in investments to boost profits.

Spotify has said that if Premium subscribers do not wish to continue their subscription with the new fee price, they will have to switch to the ad-supported free service.

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