Netflix is set to increase its subscription prices for Nigerian users for the second time in three months. The American streaming giant attributes the hike to the addition of new TV shows, movies, and product features, as well as adjustments for local market changes such as taxes and inflation.
Currently, Netflix offers four subscription plans: mobile, basic, standard, and premium. The mobile plan, which supports one user on a mobile device, will now cost ₦2,200, up from ₦1,200, an 83% increase. The basic plan has been raised from ₦2,900 to ₦3,500 per month. The standard plan, which allows HD quality viewing on two devices simultaneously, will increase from ₦4,000 to ₦5,000 per month. The premium plan, offering Ultra HD quality on four devices with download options on six, will now cost ₦7,000 per month.
Despite Nigeria being Africa’s most populous nation, it constitutes a small market for Netflix, accounting for 10.5% of the continent’s total subscribers, according to Omdia Research. Netflix has also been adjusting prices in other international markets, including the United States, the United Kingdom, and France.
This price hike comes amid Nigeria’s struggles with rising inflation and a cost-of-living crisis. Earlier this year, other streaming platforms, such as Multichoice’s Showmax, also increased their subscription fees.