Netflix has increased the cost of its Premium Plan in Nigeria from N5,000 to N7,000 per month.
This is the second price hike in three months, with the last increase happening in April.
Other subscription plans have also seen price increases. The Standard Plan now costs N5,500 per month, up from N4,000, a 37.5% rise.
The Mobile Plan has gone up by 83%, from N1,200 to N2,200, while the Basic Plan now costs N3,500, a 21% increase from its previous price of N2,900.
These changes come amid high inflation in Nigeria, making it harder for many households to afford home entertainment.
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Netflix explained that these price changes reflect local market conditions, such as taxes and inflation.
“As we continue to add more TV shows and movies and introduce new product features, our plans and prices may change. We also may adjust plans and pricing to respond to local market changes, such as changes to local taxes or inflation.
“If your price is changing, Netflix will send you an email with details about the price change one month before the billing date on which your price will increase,” Netflix said on its website.
Recently, Multichoice, a major Pay-TV provider in Nigeria, also increased its prices, adding to the financial burden on many Nigerians.
