by Ramlat Ibrahim
Netflix has again announced another tariff hike for its subscription plans in Nigeria, marking the second increase within three months.
Persecondnews reports that the Premium Plan has surged by 40%, climbing from N5,000 to N7,000 per month.
According to the company’s website, the latest update also affects the Standard Plan, which is popular for its HD quality and multi-screen options, increasing it from N4,000 to N5,500, a 37.5% hike.
Netflix stated that these price revisions are part of a global strategy to periodically adjust fees to boost revenue and earnings growth, thereby supporting the expansion of its content offerings.
Additionally, after years of operating without advertisements, Netflix co-CEO Ted Sarandos announced that the company will start testing a lower-priced, ad-supported subscription tier.
This move comes in response to a difficult year for Netflix, marked by subscriber losses and heightened competition from other streaming services.
Persecondnews recalls that earlier in April, Netflix raised the Premium Plan from N4,400 to N5,000 and the Standard Plan from N3,600 to N4,000, while keeping the Basic Plan steady at N2,900.
“As we invest in and improve Netflix, we’ll occasionally ask our members to pay a little extra to reflect those improvements, which in turn helps drive the positive flywheel of additional investment to further improve and grow our service,” said the company.
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