Spotify will increase the price of its premium service in Botswana, effective from September.
The new price will be $3.29/month (P44), up from the current $2.99 (P40) per month.
"We’re increasing the price of Premium Individual so that we can continue to innovate on our product offerings and features, and bring you the best experience," Spotify told subscribers.
At the beginning of August, the streaming giant had said that part of the reason for the price hikes was to improve margins.
Price increases in the past, combined with cost-cutting efforts in recent years, have helped it to achieve its first annual profit for 2024.
The company saw an increase in monthly active users and premium subscribers during the second quarter, while higher taxes related to employee salaries led it to post a loss during the period and weighed on its third-quarter profit forecast.
Spotify has been expanding its library of video content to attract subscribers, including through its partner program, which is designed to help podcast creators by offering them monetization options.
A growing number of creators are joining the Spotify Partner Program, resulting in a significant increase in video content on the platform, CEO Daniel Ek had earlier told Reuters.
The streaming company is also benefiting from Apple's approval of its U.S. app update to show subscription prices and external payment links, after a judge barred the iPhone maker from charging commission on off-app purchases.
Ek said this change has led to "a very positive uptick" in the U.S. If similar rules are adopted in Europe and the UK, it would benefit both Spotify and other app developers.