For the second time in three months, Netflix has announced a hike in subscription prices for its Nigerian users, with an increase of at least 40%.
The streaming giant stated on its website:
“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.”
Netflix currently offers four subscription plans in Nigeria:
- Mobile Plan: Accommodates one user on a mobile device.
- New Price: ₦2,200 (previously ₦1,200) – an increase of 83%.
- Basic Plan:
- New Price: ₦3,500 (previously ₦2,900).
- Standard Plan: Offers HD quality viewing on two devices simultaneously.
- New Price: ₦5,000 (previously ₦4,000).
- Premium Plan: Offers Ultra HD quality on four devices simultaneously and download options on six devices.
- New Price: ₦7,000 (previously ₦5,800).
This price adjustment comes at a challenging time for Nigeria, which is grappling with rising inflation and a cost of living crisis. Despite being Africa’s most populous nation, Nigeria represents a relatively small market for Netflix, accounting for 10.5% of total subscribers in Africa, according to Omdia Research.
Netflix has also been adjusting prices in other international markets, including the United States, the United Kingdom, and France. Earlier this year, other streaming platforms such as Multichoice’s Showmax also increased their subscription fees, leading to public outcry.
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