The increase will apply to other plans.

Family subscription plans are increasing by $3 to $19.99.

There are nearly twice as many monthly users of the companys free, ad-supported service.

Spotify

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Streaming companies all prize low churn given the cost of acquiring and keeping customers.

The 2% churn rate is comparable with that of Netflix, the standard-bearer in streaming.

Investors responded favorably to the latest hikes, boosting Spotify shares 5% in pre-market trading Monday.

Spotify