Spotify Technology SA said Monday it will raise the monthly price of its individual Premium plan to €11.99 in many markets outside the United States starting in September, a €1 increase from the current €10.99. The adjustment applies to subscribers across South Asia, the Middle East, Africa, Europe, Latin America and the Asia-Pacific region. Customers will receive email notifications over the coming weeks, while countries that have already seen increases this year, such as France, Belgium, the Netherlands and Luxembourg, will not be affected for now. Spotify said the latest hike is aimed at improving profitability after a weak second-quarter performance in which higher personnel expenses offset double-digit revenue growth. The Stockholm-based company ended the quarter with 276 million paying users and 696 million total monthly active users. Investors welcomed the move: the shares rose about 5 % in pre-market New York trading and are up roughly 40 % so far this year. The increase follows two U.S. price hikes in 2024 that lifted the individual plan there to $11.99 a month.