Spotify to reportedly announce price rise

COLUMBIA, S.C. (CNN)— Streaming your favorite music on Spotify may soon cost you more money.

According to a Wall Street Journal report, the company is expected to raise the price of its ad-free premium monthly plan in the U.S. by a dollar.

It currently costs $9.99 per month. The Journal, citing anonymous sources, is reporting the announcement is expected to be announced next week.

The report also states that the company could increase prices in other markets in the coming months.

This would be the first increase for its premium subscription plan since Spotify launched in 2011.