Netflix, the video streaming platform, has once again heightened its subscription charges, notably increasing its Premium Plan by 40 percent to N7,000 from N5,000 monthly.
The escalation of rates for the Basic and Premium plans commenced in October 2023 across various significant regions globally, including the United States, the United Kingdom, and France.
In April, the streaming platform had announced that the Premium Plan cost in Nigeria would surge to N5,000 from N4,400, while the Basic Plan remained at N2,900, and the Standard Plan was elevated from N3,600 to N4,000.
This adjustment in pricing aligns with Netflix’s overarching strategy to reevaluate subscription fees in different geographic areas, with the goal of advancing revenue and earnings growth.
The company’s approach involves periodic price increments to bolster the expansion of content offerings.
This recent price surge marks the platform’s second pricing modification in Nigeria within a three-month period, following an earlier adjustment in April.
As indicated on the company’s official website, the Standard plan subscription, known for its HD quality and multi-screen viewing capabilities popular among Nigerian users, has surged from N4,000 to N5,500, reflecting a 37.5 percent increase.
