X (formerly Twitter) has announced an increase in the price of its top-tier subscription service, Premium+. This is the largest price hike since Elon Musk bought the platform in 2022.
In a statement by the tech giant, price increases range based on location with markets such as Nigeria, Turkey, and India being the most impacted. With a 51 percent increase, Nigerian users will now subscribe to ₦34,000 monthly, up from ₦22,550. Likewise, the annual subscription for the same plan will now go for ₦354,000.
However, the price increment did not affect the lower Premium subscription plan which still costs only N3,650 per month in Nigeria and N38,500 annually.
The social media company explains that existing subscribers whose new billing cycle starts before January 20, 2025, will be charged at their current rate. However, the new rate will apply beginning with the first billing cycle after that date.
For new subscribers, the new price will be immediately activated once they subscribe to the Premium service.
“We’re updating the X Premium+ subscription price on December 21, 2024. New subscribers will pay the updated price starting that day. If you’re an existing subscriber and your next billing cycle starts before January 20, 2025, you’ll be charged at your current rate; otherwise, the new rate will begin with your first billing cycle after that date,” the statement reads.
Across the international markets, X users in the United States faced a 37.5 percent increase from $16 to $22 per month while annual subscriptions rose from $158 to $168. Also, the European Union market witnessed a price hike to €21 from €16 monthly while Canada will see Premium+ rates climb to $29 from $20.
In other African countries, South African users will now pay R400 monthly, while Premium+ users in Kenya and Egypt will pay Ksh2,800 and €1,115, respectively, for the same service. Users in Cameroon, Cape Verde, Chad, Ghana, and some others will now subscribe for $22 monthly.
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