Just a year after its first US price increase in over a decade, Spotify is raising the cost of its premium plans again. Get ready to pay more for ad-free streaming and other perks, because Spotify says it needs the extra cash to “invest in and innovate on our product features and bring users the best experience.”

Here’s the breakdown of the new pricing structure:

• Individual — $11.99/mo., up from $10.99/mo.
• Duo — $16.99/mo., up from $14.99/mo.
• Family — $19.99/mo., up from $16.99/mo.
• Student — No changes (remains $5.99/mo.)

That’s a significant increase, especially for families. The Family plan has gone up 25% in just a year, while Duo has seen a 30% jump. Individual Premium has risen in price by 20% since last June.

While the price hike stings, Spotify claims it’s necessary to fuel future development. They point to continued “investment in and innovation on our product features” as the reason behind the change. This could be related to their rumored “Supremium” tier, offering features like high-fidelity lossless streaming – a perk some competitors already provide. Eagle-eyed users have even spotted a Dolby Atmos logo within the app, hinting at potential spatial audio features in the future.

This isn’t just a US issue. Spotify announced price hikes for international subscribers last month as well. The move comes despite Spotify never turning a profit since its public launch in 2018.

The price increase is sure to anger some users, especially those who may be considering switching to competitor services like Apple Music, which offers a Family plan for a lower price point. With rising costs across the board, Spotify will need to convince users that the extra features and continued development are worth the additional strain on their wallets.