Video streaming giant Netflix has increased its subscription prices in Nigeria for the second time in three months. The Premium Plan will now cost N7,000 per month, up from N5,000.
This latest price adjustment follows a previous increase introduced in April this year. AMBusiness reports that there was no confirmed notification sent to subscribers before the recent hike, but the new prices are now reflected on Netflix’s subscription page.
The Standard plan, popular among Nigerian customers for its HD quality and multi-screen viewing options, has risen from N4,000 to N5,500, marking a 37.5% increase. The Mobile plan saw the highest percentage increase, jumping by 83% from N1,200 to N2,200. Meanwhile, the Basic package went up from N2,900 to N3,500, a 21% hike.
In April, Netflix had raised the Premium Plan price from N4,400 to N5,000, and the Standard Plan from N3,600 to N4,000, while the Basic Plan remained at N2,900.
The new price increases come amid strong inflation in Nigeria, which has driven up the cost of goods and services, making home entertainment increasingly unaffordable for many households struggling with rising food prices.
Netflix explained on its website that price changes reflect local market conditions such as taxes and inflation: “As we continue to add more TV shows and movies and introduce new product features, our plans and prices may change. We also may adjust plans and pricing to respond to local market changes, such as changes to local taxes or inflation.”
“If your price is changing, Netflix will send you an email with details about the price change one month before the billing date on which your price will increase,” the company stated.
This price hike follows a recent trend in the Nigerian entertainment market, where Multichoice, a major Pay-TV provider, has also increased prices for the third time in as many years, causing dismay among many Nigerians.
