Netflix has once again increased its subscription price in Nigeria to N7,000.
Netflix increases its subscription prices in Nigeria, raising the monthly cost of the Premium Plan from N5,000 to N7,000.
Netflix has implemented its second price adjustment within three months, following the introduction of the previous increase in April this year.
It is uncertain whether Netflix notified its subscribers in advance about the price increase. However, the reporter observed that the new, higher subscription prices were already displayed on Netflix’s subscription page, indicating that the changes were already in effect and visible to users.
The subscription fee for Netflix’s Standard plan has also increased, rising from N4,000 to N5,500.
Netflix’s price hike aligns with significant inflation in Nigeria, which has elevated the cost of all goods and services across the country. This rise in prices is impacting household budgets, making home entertainment less affordable for many, especially amid the backdrop of escalating food prices that are already challenging for Nigerians.
In explaining the ‘price change’ on its website, Netflix indicated that adjustments in subscription fees reflect local market dynamics such as taxes and inflation.
Netflix stated on its website that as they expand their library with more TV shows and movies and introduce new features, there may be changes in their subscription plans and prices. They also mentioned that adjustments could be made in response to local market factors like taxes or inflation.
Regarding price changes, Netflix assured users that they would receive an email notification one month before their billing date if there is an upcoming price increase, providing details about the adjustment.
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