Spotify increases subscriber prices for second time in a year—the latest service to jump on the price-hike bandwagon

For the second time in under a year, Spotify is raising its price for subscribers.

Starting next month, the company says subscribers in the U.S. will pay an extra $1 per month for ad-free streaming, bringing the price to $11.99 per month. That follows an announcement last July, when it hiked the price from $10.99 per month.

While two price bumps in a row are unusual, Spotify is hardly alone in its decision to raise the cost of ad-free music. Many major streaming services have increased prices in the past year as labels seek higher royalty payments and the services shift from user acquisition to earning a profit.

The price hikes are not limited to individual subscribers. Family and student plans are also going to cost $1 more per month, and the Duo plan, which lets two people split a premium plan, will increase by $2.

“We are committed to delivering the best audio content around the world, and we are always working to bring our subscribers a highly personalized experience and powerful discovery tools. This update will help us continue delivering value to fans,” the company said in a statement.

As mentioned, Spotify is just the latest music streaming service to raise prices. Pandora, earlier this year, increased the cost of its Premium monthly service from $9.99 per month to $10.99 (and hiked the price of the family option by $3 per month). Amazon, last August, bumped up the price of Amazon Music by a buck to $9.99 per month. And Apple Music, in October 2022, raised monthly prices by $1, to $10.99.

Video streaming services have also been increasing prices regularly, with YouTube TV subscribers seeing their price double from 2017 to today. Disney+ ad-free subscribers have also seen prices double since the 2019 launch.

Video services, though, are in the midst of preparing bundles, which could save subscribers of multiple services some money.

This story was originally featured on Fortune.com