Spotify Technology SA (SPOT) on Thursday announced that it will hike prices of its premium subscription plans to $12.99 per month in select markets.

Add Asianet Newsable as a Preferred Source

Over the next month, Spotify said that subscribers in the U.S., Estonia, and Latvia will receive an email stating that the premium subscription will cost $12.99 a month, up from $11.99 a month.

“Occasional updates to pricing across our markets reflect the value that Spotify delivers, enabling us to continue offering the best possible experience and benefit artists,” the company said.

Spotify shares were up more than 3% in Thursday’s pre-market trade. Retail sentiment on Stocktwits around the company was in the ‘neutral’ territory at the time of writing.

Get updates to this developing story directly on Stocktwits.<

For updates and corrections, email newsroom[at]stocktwits[dot]com.<