Netflix Increases Subscription Prices In Nigeria For The Second Time In 3 Months

Netflix has raised its subscription prices again in Nigeria. The Premium Plan now costs ₦7,000 per month, up from ₦5,000, a 40 per cent increase.

This is the second price hike in three months. The first increase was in April, which Netflix said would help grow its revenue and earnings and support the expansion of its content.

According to Netflix’s website, the Standard Plan, famous for its HD quality and multi-screen options, has gone from ₦4,000 to ₦5,500, a 37.5 per cent increase. The Basic Plan has also risen from ₦2,900 to ₦3,500, a 21 per cent increase. The Mobile Plan, the lowest option, has increased from ₦1,200 to ₦2,200, an 83 per cent rise.

Additionally, Nairametrics reported that Netflix co-CEO Ted Sarandos confirmed that the company will start testing a cheaper, ad-supported subscription plan, stating that the decision came after a challenging year for Netflix, marked by subscriber losses and increased competition.

The new ad-supported plan, “Basic with Ads,” has been launched in various countries. It offers a cheaper option for those willing to watch ads.

These price increases come amid high inflation in Nigeria, which has raised the cost of living.

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