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Netflix said Thursday it will launch a cheaper, ad-supported streaming option on Nov. 3 that costs $6.99 a month as it scrambles to reverse a recent tide of customer losses.
Currently, Netflix offers ad-free options that range from $9.99 to $19.99 depending on how many users log in to the same account. The most popular service costs $15.49 in the US.
The new plan, dubbed “Basic with Ads,” is slated to launch Nov. 3 with ads that average 4 to 5 minutes per hour, Netflix said, noting that ads will be 15 to 30 seconds in length and will play before and during the programs.
On broadcast networks such as ABC, NBC, or FOX, primetime advertising times range from an average of 12 to 17 minutes per hour, according to Statista.
The streaming giant — home to “Dahmer,” “Stranger Things” and “Emily in Paris” — added that a “limited number of movies and TV shows won’t be available due to licensing restrictions.
