Nov 24 (Reuters) - Spotify ( SPOT ) will raise its U.S.

subscription prices in the first quarter of next year, the

Financial Times reported on Monday, citing three people familiar

with the matter.

The Swedish streaming giant said in August it would raise

prices to 11.99 euros ($13.82) per month from 10.99 euros in

markets including South Asia, the Middle East, Africa, Europe,

Latin America and the Asia-Pacific region.

But next year's hike would be the first price increase in

the United States since June 2024.

Spotify ( SPOT ) did not immediately respond to a Reuters request for

comment.

The company has leaned on price increases in recent years to

drive earnings growth, confident that its ubiquity ensures users

stick around. It raised the cost of its premium individual plan

in more than 150 markets in the September quarter.

Spotify ( SPOT ) forecast fourth-quarter profit above Wall Street

expectations earlier this month, betting on robust user growth

and a boost from price hikes in the crucial holiday season.

($1 = 0.8677 euros)