Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

Netflix, the leading global video streaming service, has announced a substantial increase in its subscription fees for Nigerian users, effective immediately.

This marks the third price hike within a year, as the company push to improve its revenue from Nigeria and expand its original content offerings.

According to updates on the company’s website, the Premium Plan now costs N8,500 per month, up from N7,000, representing a 21.43% increase. This tier offers Ultra HD quality and allows access on multiple devices.

The Standard Plan, which supports HD streaming and two simultaneous screens, now goes for N6,500, a rise of 18.18% from the previous N5,500.

The Basic Plan, which is limited to one screen and no HD, has increased by 14.29%, moving from N3,500 to N4,000. Netflix’s most affordable option, the Mobile Plan, has risen by 13.64%, jumping from N2,200 to N2,500.

Here is a snapshot of the changes

The adjustments have been communicated via customer messages and updates on Netflix’s website.

For more information on the updated subscription plans and their features, users are directed to visit Netflix’s official website or contact customer support, Vanguard reports.

In 2024, the company raised its prices twice, first in April and again in July, citing local market factors such as taxes and inflation. Netflix has consistently expressed its commitment to improving service quality through ongoing investments.

The streaming platform currently boasts over 247 million paid subscribers across more than 190 countries.

According to unconfirmed figures reported by BusinessDay, Nigeria accounts for approximately 169,600 of those paid subscribers.

MultiChoice’s hike in DSTV subscription

Earlier, Legit.ng reported that MultiChoice Nigeria, a pay-TV provider, has announced a 21% rise in the subscription fee for its DStv Compact package, from N15,700 to N19,000.

According to MultiChoice, the Compact Plus and Premium bouquets will stay at N30,000 and N44,500, respectively, but the DStv Compact package would see a hike.

The announcement has drawn a lot of criticism from customers, many of whom vented their dissatisfaction on social media over the regular price increases without a commensurate improvement in the quality of the services.

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Source: Legit.ng