Starting on November 24, 2024, Spotify, a music streaming service, will raise the price of its Premium subscription in Nigeria by 44%, from N900 to N1,300 per month.
The massive audio streaming company clarified that the changes are required to improve user experience and accommodate continuous improvements in its product line.
Spotify emailed its subscribers to inform them of the change, saying: “Thank you for being a Premium subscriber. As of your billing date on November 24, 2024, your subscription price will change from NGN 900.00/month to NGN 1,300.00/month. We’re increasing the price of Premium Individual so we can continue to innovate on our product offerings and features and bring you the best experience.”
The pattern of growing subscription fees
Netflix increased the monthly cost of its Premium Plan subscription by 40%, from N5,000 to N7,000, in July 2024. The company had already raised its Premium Plan from N4,400 to N5,000 and its Standard Plan from N3,600 to N4,000 in April.
Netflix claims that these price increases are a component of its plan to increase earnings and keep a competitive edge in a market that is expanding quickly, such as Nigeria.
In a similar vein, Elon Musk’s internet service provider Starlink raised its monthly subscription fee in Nigeria from N38,000 to N75,000, a 97% increase.
Continuing, the price of the Starlink hardware kits for new customers has increased from N440,000 to N590,000, a 34% increase. After reviewing the pricing of its hardware both upwardly and downwardly, Starlink attributed this second hike in subscription costs in Nigeria to “excessive inflation.”
Uber, a ride-hailing service, has informed its drivers of a 13% charge increase to lessen the impact of the recent increase in fuel prices in Nigeria, BrandSpur Nigeria news today reports.
Spotify, Netflix, Starlink, and other platforms have raised their membership fees in a wave that coincides with Nigeria’s continuing inflation, which is making it harder for people to afford necessities. Once accessible to many, entertainment and internet services are now more and more out of reach for households. In addition, Multichoice, a significant pay-TV provider in Nigeria, raised prices three times within a year, a move that also infuriated customers.
