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Netflix’s ad-supported plan is coming next month — what to know

The streaming giant will soon offer a plan it calls "Basic with Ads."

Cost-conscious streamers will be able to watch Netflix at a lower price starting this November. The catch? Users will have to endure ads.

The streaming giant announced on Oct. 13 that for the first time it will begin broadcasting advertisements to users with a subscription option called "Basic with Ads." The news comes months after Netflix first announced it would launch a lower-priced plan with ads.

"Basic with Ads" will allow users to pay $6.99 monthly for the company's services. In addition to seeing advertisements for an average of four to five minutes per hour, subscribers will also not be able to download titles. Netflix also noted that a limited number of movies and TV shows will not be available under the plan due to licensing restrictions, which it said it is "working on."

The new option will launch in the U.S. on Nov. 3 at 9 a.m. PT. Netflix said in its announcement that its current subscription plans will not be impacted.

The "Basic with Ads" plan will roll out in a total of 12 countries.

This year has been one of change for the streamer.

In March, Netflix announced it would begin testing ways to stave off password sharing by charging primary account holders in three countries additional fees for users outside their homes.

In July, the company shared in an earnings report that it had lost about 1 million subscribers in its second quarter, the most considerable subscriber loss in its history. Still, it was far less than the 2 million initially anticipated, and the result was a surprising rise in shares.