Spotify Technology SA will raise the monthly fee for its individual Premium plan to €11.99 from €10.99 in September, marking the streaming service’s second increase in two years. The new pricing will apply across markets in South Asia, the Middle East, Africa, Europe, Latin America and the Asia-Pacific region, while the Family, Duo and Student plans remain unchanged. In a company blog post, Spotify said the adjustment will help fund product innovation and support its margin goals. The service last lifted the price of its individual tier from €9.99 to €10.99 in 2023 after holding pricing steady for a decade. Investors welcomed the latest move, sending Spotify shares up roughly 4.5% in pre-market trading on Monday. The increase comes as the Stockholm-based company focuses on sustaining profitability and expanding paid subscriptions, which stood at 268 million globally at the end of June.