Video streaming platform Netflix has once again increased its subscription prices in Nigeria, with its Premium Plan rising by 40% from ₦5,000 to ₦7,000 per month.

This latest hike marks the second price adjustment by Netflix within three months, following an increase in April this year.

According to the updated prices on the company’s website, the Standard Plan, popular among Nigerian subscribers for its HD quality and multi-screen viewing options, has increased from ₦4,000 to ₦5,500, representing a 37.5% rise.

Netflix has been adjusting the rates of its Basic and Premium plans since October 2023 in several major markets, including the United States, the United Kingdom, and France.

In April, Netflix announced that the Premium Plan in Nigeria would increase from ₦4,400 to ₦5,000. Meanwhile, the Basic Plan remained at ₦2,900, and the Standard Plan rose from ₦3,600 to ₦4,000.

At that time, Netflix stated that the price adjustment was part of a broader strategy to revise subscription fees across various regions. The company explained that these changes aimed to accelerate revenue and earnings growth, following a pattern of periodic price hikes to support the expansion of its content offerings.

The current increase makes it the second price adjustment by Netflix within three months in Nigeria.