Netflix has once again increased its subscription prices in Nigeria, with the Premium Plan rising by 40% from N5,000 to N7,000 per month.
This marks the second price adjustment by the platform within three months, following a previous increase in April.
According to the company’s website, the Standard Plan, popular among Nigerian subscribers for its HD quality and multi-screen viewing options, has been raised from N4,000 to N5,500, a 37.5% increase.
Starting in October 2023, Netflix has been raising the rates of its Basic and Premium plans in several major markets worldwide, including 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.