Recently, I glanced behind the counter of a store in one of Lagos’s more upmarket areas and noticed a product called Durex1. The shop was selling one Durex condom for N150 (35p). To the left were the regular three condom packs priced at N400 (94p). It made no sense to me. Would someone really just buy one condom? What’s the point? N150 or N400, is it that much of a difference?
I was intrigued at this pricing for the local market approach. Pricing structures have been an issue we’ve concerned ourselves with at iROKOtv for years – making our Nollywood content affordable enough for as wide an audience as possible, whilst obviously generating enough profit to build a successful entertainment business.
So I applied the logic behind the Durex1 pricing strategy to subscriptions in Nigeria for iROKOtv. In order to do this, we fast tracked SMS billing/implementation on our platform and iROKOtv became N100/week for unlimited access.