Spotify Increases Monthly Premium Subscription Fees in Nigeria by 44%

Spotify has announced a 44% price increase for its Premium subscription in Nigeria, starting on November 24, 2024.

This means the monthly fee will go up from N900 to N1,300. Spotify says the price change is needed to keep improving its features and give users a better experience.

In an email to subscribers, Spotify wrote, “Thank you for being a Premium subscriber. Starting from your billing date on November 24, 2024, your subscription price will go from NGN 900.00/month to NGN 1,300.00/month.

This increase helps us continue to improve our product and features and offer you the best experience.”

Other Platforms Raising Prices Too

Spotify’s price hike comes after similar increases from other popular platforms. In July 2024, Netflix raised its Premium Plan fee by 40%, now charging N7,000 per month.

This was after an earlier increase in April when the Premium Plan went from N4,400 to N5,000 and the Standard Plan went from N3,600 to N4,000.

Netflix explained that the higher prices help them stay competitive in Nigeria’s fast-growing market.

Elon Musk’s internet service, Starlink, also increased its monthly subscription in Nigeria, nearly doubling it from N38,000 to N75,000 due to “excessive inflation.”

The cost of Starlink’s hardware kits for new users went up by 34%, from N440,000 to N590,000.

Ride-hailing service Uber has also notified drivers of a 13% fare increase to help offset the impact of recent fuel price hikes in Nigeria.

Rising Costs for Nigerian Households

With these increases, entertainment and internet services that were once affordable are becoming harder for many Nigerians to access.

Pay-TV company Multichoice has also raised prices three times in the past year, which has frustrated some subscribers.

This trend shows how global streaming and tech companies are raising prices in various markets to keep their businesses profitable, support new content, and manage economic pressures.