Video streaming platform, Netflix, has once again increased its subscription prices in Nigeria with its Premium Plan going up by 40% to 7,000 from N5,000 per month.
The latest price increment makes it the second price adjustment by the platform within the space of 3 months, having implemented a price increment earlier in April this year.
According to the price update on the company’s website, the standard plan subscription, which is popular among Nigerian subscribers for its HD quality and multi-screen viewing options, has been increased from N4,000 to N5,500. This represents a 37.5% increment.
Recall that Netflix has been raising the rates of its Basic and Premium plans starting in October 2023 in several major areas across the world, such as the United States, the United Kingdom, and France.
The streaming platform stated earlier in April that the price of its Premium Plan in Nigeria would increase to N5,000 from N4,400. Simultaneously, the Basic Plan stayed at N2,900, and the Standard Plan was raised from N3,600 to N4,000.
At the time, Netflix said the price adjustment was part of a broader strategy to revise its subscription fees across various regions. The changes, according to the company, were aimed at accelerating its revenue and earnings growth, following a pattern of periodic price hikes to support the expansion of content offerings.
The latest price increment makes it the second price adjustment by the platform within the space of three months in Nigeria, having implemented a price increment earlier in April this year.
