Spotify said on Monday it would increase the monthly price of its premium individual subscription in select markets from September, as the Swedish streaming giant looks to improve margins. The subscription price will rise to 11.

Spotify Technology said premium subscribers in markets across a number of regions would see the price of their membership increase.

When asked during the earnings call why Spotify isn’t raising prices more frequently, CEO Daniel Ek said that the streaming company was prioritizing retaining subscribers for the long term over making short-term revenue gains.