Netflix, a video streaming platform based in the United States has again increased its subscription prices in Nigeria with its Premium Plan going up by 40% to 7,000 from N5,000 per month.
The latest price increment makes it the second price adjustment by the platform within the space of 3 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. This represents a 37.5% increment.
Netflix’s Basic plan, which was N2,900 has been jerked up by 21% to N3,500, while the lowest subscription plan, Mobile, has gone up by 83% from N1,200 to N2,200.
The Netflix price increment comes amid high inflation in Nigeria that has pushed up prices of every product and service being offered in the country. While Nigerians grapple with skyrocketing food prices, home entertainment is becoming out of reach for many households as a result of price increases.
Meanwhile, Netflix has been adjusting prices in key markets globally, including the United States, United Kingdom, and France, with the Basic and Premium plans experiencing increases in since last year.
