Spotify announced on Monday that it has increased the price of its subscriptions in the United States, in order to cope with the investments made in content production and in improving the user experience.

The first premium package, known as 'personal', will increase from $10.99 to $11.99 per month, while the 'duo' package will now be billed at $16.99 and the family package at $19.99. The student package will cost $5.99. The changes will be effective from July.

The student package will cost $5.99.

These changes will take effect from July.

Following this announcement, Spotify shares on the New York Stock Exchange rose by 4.5% on Monday morning.

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