Spotify raises membership fees again to 'fund innovation'

Spotify users can expect to see another price jump as the audio streaming service announced its plan to raise membership fees.

A monthly subscription will increase to $11.99, up $1 from the previous rate beginning in July.

The company said the changes were necessary "so that we can continue to invest in and innovate on our product offerings and features, and bring you the best experience."

Subscribers can expect to receive an email in the next month explaining the update.

In December, Spotify announced a third round of layoffs after 700 workers were let go earlier in the year.

In an email sent to staff, CEO Daniel Ek blamed the "slowing economic growth" and "increased cost of capital."

"To align Spotify with our future goals and ensure we are right-sized for the challenges ahead, I have made the difficult decision to reduce our total headcount by approximately 17% across the company. I recognize this will impact a number of individuals who have made valuable contributions. To be blunt, many smart, talented and hard-working people will be departing us," Ek's memo read in part.

The company announced in January that it was axing 6% of total staff. In June, it cut staff by another 2%, or about 200 workers, mainly in its podcast division.

Recently, controversial podcast host Joe Rogan inked a new multi-year partnership deal with the streaming service.

Over the years, Rogan has developed a huge audience who listen to his long, wide-ranging interviews with a variety of guests, including comedians, athletes, scientists and conspiracy theorists.

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Editor's note: The Associated Press contributed to this article.