Netflix Inflates Subscription Price by 40%

Video streaming platform, Netflix, has again increased its subscription prices in Nigeria with its premium plan going up by 40 per cent to N7,000 from N5,000 per month.

The latest price increment makes it the second price adjustment by the platform within the space of three months, having implemented a price increment earlier in April this year.

According to the price update on the company’s website, the standard plan subscription, which is popular among Nigerian subscribers for its HD quality and multi-screen viewing options, has been increased from N4,000 to N5,500, representing a 37.5 per cent increment.

Netflix’s basic plan, which was N2,900 has been jerked up by 21 per cent to N3,500, while the lowest subscription plan, Mobile, has gone up by 83 per cent from N1,200 to N2,200.

Earlier in April, the streaming giant announced an increment that saw its premium plan price moved to N5,000 from N4,400.

At the same time, the standard plan was increased from N3,600 to N4,000, while the basic plan remained unchanged at N2,900.

Netflix also 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.