It's finally happening — after nearly every other streaming service hiked their prices by around one dollar, Spotify is doing the same. 

The new numbers: According to a report from The Wall Street Journal, Spotify Premium will see an increase of one dollar per month later this year. The platform is supposedly announcing the price raises next week. That will put the individual plan at $10.99/month, up from $9.99 per month. Similar increases are expected in "dozens of markets" worldwide in the coming months.

Following in their footsteps: Last week, YouTube Music raised its subscription price for YouTube Music Premium by one dollar to $10.99. Similar increases have come from Apple Music last fall, which moved to $10.99 per month for an individual subscription, Amazon Music in January, which raised its monthly price to $10.99 for non-Prime members, Deezer in February, increasing its Premium plan to the same amount, and Tidal earlier this month, which also raised its HiFi tier price by one dollar to $10.99 per month. Video streaming services have also been increasing their pricing in recent months.

What they're saying: In October, Spotify CEO Daniel Ek said that the service was considering a price hike and that a domestic price increase was "one of the things we would like to do and it’s something we will [discuss] with our label partners. I feel good about this upcoming year and what it means about pricing for our service."