Internationally renowned streaming platform, Netflix has increased its subscription prices in Nigeria for the first time in 2025, marking its third price hike since 2024.
The Premium Plan now costs N8,500 per month, up from N7,000, a 21.43 per cent jump.
The latest update on the company’s website also shows that the Standard Plan (HD quality and multi-screen support) now costs N6,500, up 18.18 per cent from N5,500.
The Basic Plan has risen by 14.29 per cent from N3,500 to N4,000, while the Mobile Plan, Netflix’s most affordable tier, now goes for N2,500, up 13.64 per cent from N2,200.
The company, in 2024 raised prices twice within three months, first in April and the second one in July.
At the time, Netflix cited a global pricing strategy aimed at accelerating revenue and funding its growing slate of content.
“As we invest in and improve Netflix, we’ll occasionally ask our members to pay a little extra to reflect those improvements,” the company noted in a letter to shareholders.
“This helps drive the positive flywheel of additional investment to further improve and grow our service,” it added.
Although Netflix hasn’t explicitly linked inflation to its recent price hike, the company recognized that adjustments in pricing are influenced by local market factors, which include taxes and inflation.
The recent price increase by Netflix comes at a time of high inflation, which has caused the prices of various products and services to rise across the country.
As Nigerians struggle with soaring food costs, home entertainment is becoming increasingly unaffordable for many families, particularly following a 50 percent increase in data costs by telecom operators.
In addition, major pay-TV provider Multichoice Nigeria has raised its prices several times in the past year, leading to widespread dissatisfaction among Nigerians.