Netflix Announces 40% Subscription Price Hike

Netflix raises subscription prices by 40%, marking a significant increase for its users. Find out how this change may affect your streaming experience.

Netflix’s Premium Plan subscription prices in Nigeria have been raised once again, meaning Nigerians will now need to pay N7,000 per month.

The cost of the Premium Plan has increased by 40 percent, jumping from N5,000 to N7,000 per month.

Netflix has raised its prices yet again, following a sequence of cost revisions globally beginning in October 2023. The adjustments were implemented particularly in key markets like the United States, the United Kingdom, and France.

Read Also: Boon for Nollywood: Hit Netflix Thriller Examining Justice in Nigeria

Netflix raised the price of its Premium Plan in Nigeria from N4,400 to N5,000 in April. Meanwhile, the Basic Plan remained at N2,900 and the Standard plan went up from N3,600 toN4 ,000.

Netflix clarified that the recent changes in pricing are integral to their overall plan of revising subscription charges on a global scale. The enterprise endeavors to expedite revenue and earnings augmentation, which will aid in bolstering its spectrum of content offerings.

Within three months, Nigeria has seen its second price hike. The company’s website recently announced that the Standard Plan subscription, which offers HD quality and multi-screen viewing options favored by many Nigerian users, now costs N5,500 – a 37.5% increase from the previous cost of N4,000.