Netflix, the world’s largest paid video streaming service, has announced a 40% increase in subscription prices for premium users in Nigeria.
The new prices, published on the Netflix website, show that the premium plan will now cost N7,000, up from N5,000. The standard plan has increased from N4,000 to N5,500, while the mobile plan now costs N2,200, and the basic plan will now cost N3,500.
This is the second price increase for Nigerian users in 2024, with the previous increase occurring in April. The review is in response to the depreciation of the naira in the foreign exchange markets.
According to Netflix, the price increase is necessary to ensure that Nigerian users continue to enjoy high-quality content.
However, some users have expressed disappointment with the price increase, citing economic difficulties.
Netflix has disputed reports that Nigeria accounts for only 10.5% of its subscribers in Africa, stating that it does not reveal regional numbers.
The price increase takes effect immediately, and users are advised to check their accounts for the new prices.
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