Video streaming platform, Netflix, has raised the cost of its subscriptions in Nigeria once more. The Premium Plan will now cost N7,000 per month instead of N5,000.
This marks the platform’s second price adjustment in three months with the introduction of the most recent price increase in April of this year.
As of the time of filing this report, AMBusiness can’t confirm if any notification was sent before the recent subscription but our correspondent observed that the price increment has been reflected on the subscription page of Netflix.
The Standard plan subscription, which is well-liked by Nigerian customers for its HD quality and multi-screen viewing possibilities, has gone up from N4,000 to N5,500, per the pricing change on the company’s website. This amounts to an increment of 37.5%.
The lowest subscription plan, Mobile, has increased by 83% from N1,200 to N2,200, while Netflix’s Basic package, which was N2,900, has jumped by 21% to N3,500.
Recall Netflix revealed a price increase for its Premium Plan price to N5,000 from N4,400. The Standard Plan was increased from N3,600 to N4,000, The Basic Plan stayed at N2,900 while the Standard Plan was raised from N3,600 to N4,000 at the same time.
The price increase for Netflix coincides with strong inflation in Nigeria, driving up the cost of all goods and services provided there. Price rises are making home entertainment unaffordable for many households, even as Nigerians struggle with increasing food prices.
Explaining ‘price change’ on its website, the streaming giant revealed that a price change would be a reflection of local market changes 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 said on its website.
Recently, Multichoice, a significant Pay-TV provider in the nation, raised prices for the third time in as many years, to the dismay of many Nigerians.
