The video-streaming platform, Netflix has increased its subscription prices in Nigeria by at least 40%.
This is the second time in three months that the American streaming giant will be hiking its prices for users in Nigeria.
“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,” it said in a statement on its website.
Netflix currently offers four plans; mobile, basic, standard, and premium. The mobile plan, which only accommodates one user per time on a mobile device will now cost ₦2,200, up by 83% from ₦1,200. The basic plan has been increased to ₦3,500 per month from ₦2,900. The standard subscription which offers HD quality viewing on two devices at a time, has been increased from ₦4,000 to ₦5,000 per month. The premium plan offering Ultra HD quality on four devices at a time and download options on six devices will now be ₦7,000 per month.
Although Africa’s most populous nation, Nigeria is a small market for Netflix- accounting for 10.5% of total subscribers in Africa, according to Omdia Research, a tech research-based firm. Netflix has also been adjusting prices in the international markets, including the United States, the United Kingdom, and France.
This new price increase comes at a time when Nigeria is combatting rising inflation and a cost of living crisis. Other streaming platforms including Multichoice’s Showmax also increased its subscription fees, causing a public uproar earlier in the year.
