Nigerian Netflix subscribers are reeling from another price hike implemented by the streaming giant.
This marks the second time this year that the platform has increased its subscription fees, with the latest adjustments ranging from 20% to 40%.
The most affordable mobile plan now costs N2,200, while the premium package has jumped to N7,000. This substantial increase comes amidst a challenging economic climate in Nigeria, where inflation and rising costs of living are already putting a strain on many households.
The price hike which was announced via emails to subscribers has sparked outrage among subscribers, who have taken to social media to express their disappointment. Many Nigerians are questioning the value proposition offered by Netflix, especially considering the increasing cost of living.
It remains to be seen how this latest price increase will impact Netflix’s subscriber base in Nigeria. With competition intensifying in the streaming market, the company may face challenges retaining customers who are increasingly looking for more affordable entertainment options.
The price hikes may have created a golden opportunity for competitors like Amazon Prime Video to capitalize on Netflix’s misstep. With its growing library of content and potentially more competitive pricing, Amazon Prime could be poised to attract disgruntled Netflix customers.