Spotify to raise subscription prices again in US

Spotify is hiking the price of its Premium subscription plan in the U.S. beginning next month. 

In a notice sent to users Thursday, the streaming giant said the cost of its Premium Individual plan will increase from $11.99 to $12.99 per month, starting with users' February billing cycles.

"Occasional updates to pricing across our markets reflect the value that Spotify delivers, enabling us to continue offering the best possible experience and benefit artists," a Spotify spokesperson told FOX Business in an email.