Spotify said on Monday it would increase monthly price of its premium individual subscription in select markets from September, as the Swedish streaming giant looks to improve margins.

2. In Account Overview, scroll down to Your plan and hit Change plan. This won't delete your Spotify account but will cancel your paid subscription and knock you down to the free tier, which still allows music streaming with advertisements. You'll also keep all of your playlists and saved music.

Spotify announced on Monday that its premium subscription prices will increase for users in multiple markets across the Middle East, Africa, Europe, Latin America, and the Asia-Pacific region. Over the next month, impacted subscribers will receive an email explaining that their monthly subscription cost will increase from €10,99 to €11,99.