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Netflix Increases Subscription Prices in Nigeria Again

Written by Jerry Alomatu on July 24, 2024

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Netflix has announced another increase in its subscription costs in Nigeria, marking the second price adjustment within three months. The Premium Plan will now cost N7,000 per month, up from N5,000.

The streaming giant last increased its prices in April. At the time of this report, AMBusiness has not confirmed if Netflix notified subscribers before the latest price hike. However, the new prices are now reflected on Netflix’s subscription page.

The Standard Plan, popular for its HD quality and multi-screen viewing options, has risen from N4,000 to N5,500, representing a 37.5% increase. The Mobile Plan saw an 83% hike, going from N1,200 to N2,200, while the Basic Plan increased from N2,900 to N3,500, a 21% rise.

This follows an earlier increase where the Premium Plan went from N4,400 to N5,000, and the Standard Plan from N3,600 to N4,000. The Basic Plan remained at N2,900 during that adjustment.

The price hikes come amid severe inflation in Nigeria, which has driven up the cost of goods and services. Many households are finding home entertainment increasingly unaffordable due to rising food prices and other expenses.

Netflix’s website explains 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,” Netflix states.

In a similar trend, Multichoice, a major Pay-TV provider in Nigeria, has also increased its prices for the third time in as many years, causing frustration among many Nigerians.