Canadians will notice a price bump in their Spotify charge as the streaming platform announced that its increased prices.

The price hike went into effect on Monday, July 24, according toCNN. The changes apply to subscribers in a number of countries, including Canada, the US, the UK, and Australia.

"As we continue to grow our platform, we are updating our Premium prices so that we can keep innovating in changing market conditions," reads a statement on the company'swebsite. "These updates will help us continue delivering value to fans."

So how much more will users be expected to pay?

Spotify has bumped the prices of all of its Premium plans by $1. Existing users will be notified by email before their price goes up and will be given a two-month grace period "before the new price becomes effective unless they cancel before the grace period ends."

Individual plans now cost $10.99 a month. The monthly rate for the duo plan for two accounts is now $14.99, the family plan for six accounts costs $16.99, and the student plan costs $5.99.

If you're on a trial offer, you have two months at the original price once your trial period is over. Afterwards, you'll have to pay for the new price.

"Alternatively, we also provide a free, ad-supported service that allows you to stay connected with your favourite music, podcasts, and access to all your saved tracks, playlists, and podcasts," reads the statement.

What are your thoughts on Spotify bumping its rates?