Netflix compounds woes Nigerians with 37% hike in subscription

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, according to AMBusiness.

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.

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.