Spotify has officially announced that it will raise prices for premium subscribers in the United States, as well as in Estonia and Latvia, beginning with users’ next billing cycle in February. The company says subscribers will receive an email soon explaining the changes.

In the U.S., the individual premium plan will increase from $11.99 to $12.99 per month, while the family plan will rise from $19.99 to $21.99. The premium duo plan will jump to $18.99, up from $16.99, and the student plan will go from $5.99 to $6.99. Most of these prices weren’t detailed in Spotify’s announcement on Thursday, but its website has already been updated to reflect the new amounts for U.S. users.

This marks Spotify’s third U.S. price increase in three years, following hikes in July 2023 and July 2024. The company says the adjustments are part of its strategy to maintain a strong value-to-price ratio as it adds new content offerings, like audiobooks, videos and various podcast features.

Spotify’s email to subscribers will outline what the changes mean and when they take effect. The company previously told investors that price increases, combined with cost-saving measures, have helped improve margins and profitability. Analysts estimate that a U.S. price hike could generate hundreds of millions in additional annual revenue.

The news comes as Spotify continues to expand its platform, including the recent launch of music videos in the U.S. and Canada following a licensing deal for “expanded audiovisual rights” with the National Music Publishers’ Association.