Price hike – Tech | Business | Economy https://techeconomy.ng Tech | Business | Economy Tue, 24 Jun 2025 14:53:06 +0000 en-GB hourly 1 https://wordpress.org/?v=7.0 https://techeconomy.ng/wp-content/uploads/2025/06/cropped-256Px-32x32.png Price hike – Tech | Business | Economy https://techeconomy.ng 32 32 FCCPC Slams Charges on MultiChoice Nigeria, CEO John Ugbe https://techeconomy.ng/fccpc-slams-charges-on-multichoice/ https://techeconomy.ng/fccpc-slams-charges-on-multichoice/#respond Tue, 24 Jun 2025 14:53:06 +0000 https://techeconomy.ng/?p=161710 The Federal Competition and Consumer Protection Commission (FCCPC) is preparing to prosecute MultiChoice Nigeria Limited, its Chief Executive Officer John Ugbe, and several company directors for obstructing an ongoing investigation and ignoring a lawful summons.

According to a charge sheet, FHC/ABJ/CR/197/2025, the commission alleges that the accused wilfully failed to appear before it on March 6, 2025, following an official summons issued on February 25. 

The document lists John Ugbe, Gozie Onumonu, Adewunmi Ogunsanya, and five other directors as defendants.

This follows the Federal High Court’s dismissal of a suit filed by MultiChoice on May 8, which sought legal backing for its controversial price hike on DStv and GOtv subscriptions. Justice James Omotosho ruled that the suit was “an abuse of court process”.

The FCCPC claims that the accused deliberately failed to submit documents relevant to its probe, a breach of section 3 of the FCCPC Act 2018. 

The charge sheet states: “Being Directors of MultiChoice Nigeria Limited on or about the 6th day of March, 2025, at 23 Jimmy Carter Street, Asokoro, Abuja, within the jurisdiction of this Court, [they] caused the aforesaid MultiChoice Nigeria Limited to fail to produce documents which the Company was required to produce, in compliance with a lawful summons issued and dated 25 February, 2025, and thereby committed an offence contrary to and punishable under Section 3 of the FCCPC Act 2018.”

Beyond failing to appear, the commission says MultiChoice’s leadership actively hindered its investigation by refusing to disclose requested documents, an act the FCCPC considers a direct challenge to its regulatory authority.

When the matter came up in court on Tuesday, the Commission’s lawyer informed Justice Omotosho that while the company had been served, the individual directors named in the charge had not yet received personal service. Justice Omotosho subsequently adjourned the case until October 7, 2025, for arraignment.

This issue is rooted in FCCPC’s concerns over repeated and unexplained price increases by MultiChoice. In February, the Commission summoned Ugbe to explain what it described as “frequent price hikes, potential abuse of market dominance, and anti-competitive practices.” It warned that failure to provide clear justification could trigger regulatory sanctions.

MultiChoice objected, filing a case through its legal team led by Onigbanjo SAN. The company argued it had not been given a fair hearing and sought to block the Commission from taking further action, citing a letter dated March 3, 2025. The court, however, dismissed the suit, stating that it was an attempt to stall accountability.

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Netflix Hits Nigerian Subscribers with 2nd Price Hike in Three Months, 40% Up https://techeconomy.ng/netflix-hits-nigerian-subscribers-with-2nd-price-hike-in-three-months-40-up/ https://techeconomy.ng/netflix-hits-nigerian-subscribers-with-2nd-price-hike-in-three-months-40-up/#respond Wed, 24 Jul 2024 14:54:31 +0000 https://techeconomy.ng/?p=138003 Streaming platform, Netflix has again raised its subscription rates in Nigeria, with the Premium Plan now costing ₦7,000 per month — a 40% increase from the previous ₦5,000. 

This price change, effective immediately, is the second adjustment in just three months, pointing to the company’s need to align with its revenue growth objectives.

The Standard Plan, offering HD quality and allowing simultaneous viewing on multiple devices, now costs ₦5,500, a 37.5% rise from ₦4,000. Meanwhile, the Basic Plan has increased from ₦2,900 to ₦3,500, and the Mobile Plan, which was initially ₦1,200, has jumped to ₦2,200, representing an 83% increase.

This can be ascribed to inflationary issues in Nigeria, which have affected consumer affordability. These changes are part of a global pattern where Netflix adjusts its fees in key markets, including the United States, United Kingdom, and France, to sustain its investment in a diverse range of content offerings.

The company aims to enhance its competitive edge as the streaming industry becomes increasingly crowded with alternatives.

In addition to price hikes, Netflix is exploring more economical subscription models to encourage a wider audience. The “Basic with Ads” plan, introduced in various countries, provides a lower-cost option for subscribers willing to view advertisements.

This also comes after Netflix faced subscriber losses and growing competition, prompting a reevaluation of its service offerings to maintain market share and attract new customers.

The Nigerian entertainment market remains a huge focus for Netflix. Despite the challenges caused by inflation, the company is still working to strengthen its foothold in the region.

This includes a commitment to investing in local content and partnerships, ensuring that it continues to interest Nigerian audiences even as prices rise.

Netflix is also working to balance the need for financial sustainability with consumer expectations in the global market.

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Spotify Hikes its Premium Price  https://techeconomy.ng/spotify-hikes-its-premium-price/ https://techeconomy.ng/spotify-hikes-its-premium-price/#respond Mon, 24 Jul 2023 15:05:55 +0000 https://techeconomy.ng/?p=108452 Audio streaming platform, Spotify has revealed changes to its Premium subscription prices in various markets worldwide. 

Spotify is known for delivering commendable audio experience to its users and creating opportunities for fans and creators to connect.

With a staggering 200+ million Premium subscribers globally, Spotify has solidified its position as the most popular audio streaming subscription service, offering premium users exclusive benefits like on-demand and ad-free music listening, offline music downloads, and high-quality music streaming.

However, as the market landscape continues to evolve and competition in the audio streaming industry remains fierce, Spotify recognizes the importance of continuous innovation to stay ahead. The company aims to provide even more value to its loyal fans and support artists on their platform.

To achieve this goal, Spotify is adjusting its Premium subscription prices in select markets around the world. These changes are expected to support ongoing innovation efforts and allow Spotify to bring new features and services to its users.

The updated Premium prices for the United States are as follows:

  • Premium Single: $10.99
  • Premium Duo: $14.99
  • Premium Family: $16.99
  • Premium Student: $5.99

While existing subscribers in the affected markets will receive an email explaining the implications of these changes on their accounts, Spotify assures its users that the platform will continue to provide an unparalleled audio experience with a vast library of music, podcasts, audiobooks, and innovative features.

Spotify has been at the forefront of introducing novel tools like the new AI DJ and experiences like Blend, which have garnered praise from fans and creators alike. Additionally, the platform’s dedication to the podcasting space has contributed to its ever-growing popularity among diverse audiences.

By adapting its Premium pricing strategy, Spotify aims to sustain its position as a leading audio streaming service and ensure it remains at the cutting edge of the industry. The adjustments are part of Spotify’s commitment to serving the needs of its community and fostering a dynamic ecosystem for artists, creators, and music enthusiasts.

As subscribers around the world receive the news about the changes, it remains to be seen how users will respond to the price adjustments. Nevertheless, Spotify’s unwavering dedication to innovation and enhancing the user experience is expected to maintain its strong footing in the competitive audio streaming market.

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