Netflix increases subscription price by 40% in Nigeria

Netflix has increased its subscription prices in Nigeria for the second time in three months.

The Premium Plan now costs N7,000, a 40% increase from N5,000.

The Standard Plan has risen by 37.5% to N5,500, while the Basic Plan has increased by 21% to N3,500. The Mobile Plan has seen the largest hike, up 83% to N2,200.

This price adjustment follows a previous increase in April and is part of Netflix’s broader strategy to revise subscription fees globally.

The company aims to accelerate revenue and earnings growth by periodically increasing prices to support expanding content offerings.

The price hike comes amid high inflation in Nigeria, making home entertainment less affordable for many households.

Netflix has also introduced an ad-supported, lower-priced subscription tier, “Basic with Ads,” in various countries, offering a more affordable option for subscribers willing to watch commercials.