Spotify has launched a new promotion offering a rare discount on an annual Premium subscription. From now through December 31, 2017, you can score a 12-month Premium (ad-free) membership for just $99.

Spotify Premium normally sells for $9.99 per month which works out to $119.88 over the course of 12 months. The promo price of $99 translates to $8.25 per month, good for a savings of $1.74 each month or $20.88 overall.

If you fully intend to maintain a Spotify Premium account over the next 12 months, there’s little reason to pass up on the savings.

Worth mentioning is the fact that you’ll only be eligible for a refund within 14 days of purchase. If you use Spotify during the 14-day period, the right to a refund is immediately revoked. While the offer is valid for both new and existing Spotify customers, it isn’t available to existing family plan members.

Oh, and the entire $99 balance is due up front.

Spotify is by far the largest streaming music provider around. As of July, it had 60 million paid subscribers on its books and more than 140 million total active users (including the ad-supported tier).

Spotify in related news is said to be considering a stock swap with China’s Tencent Holdings Ltd. According to The Wall Street Journal, the two sides are interested in trading stakes of up to 10 percent in each other’s businesses ahead of public listings next year. A deal, among other benefits, would align the two services in future licensing negotiations, sources said.