Netflix To Charge Nigerians And Kenyans In Local Currency - Reports
13 February 2020
The global video-on-demand streaming service, Netflix, has announced that it will be implementing new ways to make it easier for subscribers to pay and renew their subscriptions. In Nigeria and Kenya, Netflix will now begin charging customers in their local currencies.
In 2018, Netflix made the crucial decision to switch to billing South African subscribers in rands instead of dollars. This was done with the aim to increase its presence and penetrate the market. This was also the first time that Netflix charged subscribers in local currency in Africa.
Just recently, Netflix decided to start doing the same in East Africa (Kenya) and West Africa (Nigeria).
Netflix has been available in Kenya since 2016 and has been charging local subscribers in US dollars all along, but on the 21st January 2020, the streaming giant decided to switch billing in these countries from US Dollar to Nigerian Naira (NGN) and Kenyan shillings (KSH) respectively.
Along with the switch to local currency billing in the two countries, subscription cost also dropped.
In addition to the decrease in subscription prices, this announcement also comes with other benefits. For one, it protects Netflix subscribers against the regular fluctuation of local currencies against the US dollar. Also, it could potentially force other video-on-demand services around Africa to review their subscription fees too.