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Netflix Hikes Subscription Rates Again In Nigeria Amid Economic Hardship

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Netflix, the American streaming giant, has announced yet another increase in its subscription prices for Nigerian users. This marks the second price hike in 2024, following a similar adjustment in April. According to updates on the company’s website, the new rates represent significant increases across all subscription plans.

As of Wednesday, Netflix’s Premium Plan has risen from N5,000 to N7,000 per month, a substantial 40 percent increase. The Standard Plan, popular among Nigerian viewers, saw a 37.5 percent rise from N4,000 to N5,500. The Basic Plan rate climbed by 21 percent, moving from N2,900 to N3,500, while the Mobile Plan experienced the steepest hike, jumping 83 percent from N1,200 to N2,200.

Despite the substantial increases, Netflix has not provided specific reasons for the latest hike. This development comes 17 months after the company reduced its subscription prices in over 30 countries, including Egypt, Yemen, Jordan, Libya, Iran, Kenya, Croatia, Slovenia, Bulgaria, Nicaragua, Ecuador, Venezuela, Malaysia, Indonesia, Vietnam, Thailand, and the Philippines. The contrast between the reduction in other countries and the increase in Nigeria is stark and raises questions about the company’s pricing strategy in different markets.

Nigerians are currently grappling with severe economic challenges, compounded by a rising cost of living. The inflation rate soared to 34.18 percent in June, forcing companies to adjust their business models to remain profitable. This economic climate has made home entertainment increasingly unaffordable for many households. The Netflix price hikes are a reflection of these broader economic pressures.

In April, Multichoice Nigeria announced an increase in the cost of its DStv and GOtv packages, citing the rising cost of business operations as the rationale behind the price adjustment. These new rates took effect on May 1. The recurring price increases by major entertainment providers highlight the growing financial strain on Nigerian consumers. Netflix’s price changes coincide with the company’s policy of adjusting plans and pricing in response to local market conditions such as taxes and inflation. The streaming giant explained on its website, “As we continue to add more TV shows and movies and introduce new product features, our plans and prices may change. We also may adjust plans and pricing to respond to local market changes, such as changes to local taxes or inflation. If your price is changing,

Netflix will send you an email with details about the price change one month before the billing date on which your price will increase.”

As of the time of this report, it is unclear whether Netflix issued prior notifications to subscribers about the latest price changes. However, the updated prices are already reflected on Netflix’s subscription page. The continuous price increases by major service providers underscore the economic challenges faced by Nigerians, making it increasingly difficult for many to afford entertainment services.

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Diaspora Watch – Vol. 42

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Dive into the 42nd Edition of Diaspora Watch!

Explore the intersection of global politics, entertainment, and lifestyle with our latest edition.

Diaspora Watch FREE Digital View: https://diasporawatch.com/wp-content/uploads/2025/04/flipbookvol42/index.html

Subscribe to Diaspora Watch now on the below link!!!
https://diasporawatch.com/subscribe-to-diaspora-watch-newspaper/

The big question on everyone’s mind is Trump’s Tariffs: A Threat to American Jobs or a Boost to Automation? Meanwhile, sports fans will be thrilled to know that Cristiano Ronaldo is making his Hollywood debut with an action-packed film studio venture.

In a heartwarming story, a Nigerian nurse who had been working in the US has made the bold decision to return home in search of a more fulfilling life.

This edition also shines a spotlight on Nigeria’s Diaspora Commission Chairman, who has been honoured in Saudi Arabia for his outstanding contributions.

Other highlights include an in-depth analysis of the US-China trade war, which has intensified with Trump slapping a 104% tariff on Chinese goods.

You won’t want to miss the Diaspora Watch editorial on the need for ambassadors, followed by a report on the Nigerian government’s commencement of screening for ambassadors.

In sports, Aston Villa is hoping to lure Ademola Lookman with Champions League qualification. The back page is dedicated to this exciting development.

Grab your copy of the 42nd edition of Diaspora Watch today and stay up-to-date on all the latest news and trends.

Diaspora Watch Vol. 42

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Diaspora

Cristiano Ronaldo Makes Hollywood Debut With Action-Packed Film Studio Venture

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Cristiano Ronaldo, the renowned Portuguese footballer, has embarked on a new venture, marking his debut in the film industry.

Partnering with British film producer Matthew Vaughn, Ronaldo has co-founded an independent film studio called UR•MARV. M

This 50-50 joint venture has already led to the production and financing of two action-packed films, with plans for a third installment in the same series.

The financial specifics of the joint venture have not been disclosed, but the investment comes at a time when streaming platforms like Netflix and Disney+ are increasingly backing independent filmmakers.

This trend provides a global distribution network that can help UR•MARV’s  films reach a wider audience and fuel the growth of the independent film industry.

Ronaldo shared his excitement about this new chapter in his business career, stating, “This is an exciting chapter for me, as I look ahead to new ventures in business.”

His partner, Vaughn, praised Ronaldo’s creativity on the football pitch, saying, “Cristiano has created stories on the pitch that I could never have written, and I look forward to creating inspiring movies with him  he’s a real-life superhero.”

At 40 years old, Ronaldo has significantly expanded his business portfolio over the last decade.

His investments include stakes in a hotel chain, a porcelain manufacturer, and a media company in Portugal.

He has also recently acquired a tennis and padel club in Lisbon.

Moreover, Ronaldo has expressed an interest in owning football clubs once he retires, further broadening his business interests.

Ronaldo, who currently plays for Saudi Arabian club Al Nassr with a reported annual salary of around $200 million, continues to shine on the field.

Although he has not yet revealed when he plans to retire from professional football, his business ventures are likely to keep him busy in the years to come.

Vaughn, on the other hand, has built a reputation for reinventing action cinema with his sleek, fast-paced approach and a flair for blending humor with high stakes drama.

He made his directorial debut with the gritty crime film Layer Cake (2004) and quickly followed up with bold, genre-defying hits like Kick-Ass (2010) and X-Men: First Class (2011).

Vaughn’s big breakthrough came in 2014 with the launch of the Kingsman series—a high-octane spy saga known for its slick visuals, tongue-in-cheek tone, and explosive set pieces, all under the banner of his production company, Marv.

Most recently, he directed Argylle (2024), a globe-trotting espionage adventure starring Henry Cavill and Bryce Dallas Howard. With two more Kingsman films on the horizon, Vaughn shows no signs of slowing down.

The partnership between Ronaldo and Vaughn marks a new era for UR•MARV, with the potential for exciting and action-packed films to reach a global audience.

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Diaspora Diva – Annette Nneka Echikunwoke

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Diaspora Diva - Annette Nneka Echikunwoke

Annette Nneka Echikunwoke was born on July 29, 1996, in Ohio, United States. She is a Nigerian-American hammer thrower who has made a name for herself in the world of athletics. Annette’s athletic career began in school, where she won the shot put and discus throw at a sports day event. She later attended the University of Cincinnati, where she was a member of the track and field team.

In 2017, she won the NCAA Division I Women’s Indoor Track and Field Championships in the weight throw event. In 2020, Annette elected to represent Nigeria at the Olympic Games. However, she was disqualified due to the negligence of the Athletics Federation of Nigeria. The federation failed to conduct the required out-of-competition drug tests, which led to the disqualification of Annette and nine other Nigerian athletes. Despite this setback, Annette continued to pursue her athletic career.

In 2021, she set four successive Nigerian and African records in the hammer throw event, with a personal best of 75.49m. She is currently ranked seventh in the world in the women’s hammer throw. Annette switched allegiance to the United States and represented the country at the 2024 Summer Olympics. She won a silver medal in the women’s hammer throw event, with a throw of 75.48m. This was the first Olympic medal for the United States in the women’s hammer throw event.

Diaspora Diva - Annette Nneka Echikunwoke

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