Music streaming platform Spotify has announced a 44% price hike for its Premium subscription in Nigeria starting from November 24, 2024, the monthly fee will increase from N900 to N1,300.
reflecting a broader trend of rising subscription costs in the country’s tech sector.
Spotify communicated the change to its subscribers via email, stating, “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.”
This price adjustment follows the decline of the Naira, which has been sharply affected by the Central Bank of Nigeria’s (CBN) foreign exchange market unification.
In July 2024, Netflix raised its Premium Plan subscription by 40% from N5,000 to N7,000 per month. This came after a prior increase in April, where the…