On-demand video streaming platform,Netflix, has once again increased its subscription prices in Nigeria. This is the second price increase in 2024, as it comes three months after the previous price increase in April.
According to the new subscription rates, Netflix packages have now increased by as high as 40%.
The premium plan will now cost N7,000 ($4.40), up from #5,000 ($3.14), a 40% increase in price.
The standard plan increases to N5,500 ($3.46) from #4,000 ($2.51), 37.5% price increase.
The basic plan to N3,500 ($2.20) from #2,900
($1.82), which is a 21% increase in price.
The mobile plan to N2,200 ($1.38) from N1,200, an 83% increase in price.
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.
