Netflix has made a pricing change announcement for its Nigerian subscribers. The Premium Plan was previously priced at N5,000 per month, but it is now set at N7,000.
Recall that Netflix has been boosting the rates of its Basic and Premium plans in various key markets across the world beginning in October 2023, including the United States, the United Kingdom, and France.
The streaming platform said in April that the price of its Premium Plan in Nigeria will rise to N5,000 from N4,400. Simultaneously, the Basic Plan remained at N2,900 while the Standard Plan was hiked from N3,600 to N4,000.
At the time, Netflix stated that the pricing increase was part of a larger initiative to update its membership costs across many territories. The modifications, according to the firm, were made to accelerate revenue and profitability development, following a pattern of periodic price increases to fund the expansion of content offerings.
The current price increase marks the platform’s second pricing adjustment in Nigeria in three months, following a price increase in April.