(WTVO) — Netflix, facing a subscriber downturn for the first time in a decade, is launching an ad-supported service on November 3rd.
According to Vox, the new version will cost subscribers $7 a month and will contain about 4 minutes of ads per hour, inserted before and during shows.
Netflix’s current basic plan runs $10 a month, with its standard plan at $15.50 a month.
Investors have encouraged Netflix to switch to an ad-revenue-generating model for years, something that executives within the company have discouraged.
But now, with the service losing viewers for the first time amidst a changing streaming landscape, the company is adopting ad revenue to prop up its fortunes.
Netflix also said a “limited number” of shows won’t appear on the ad-supported service because it hasn’t negotiated deals with some content owners.
Although the new subscriber service begins in the U.S. on November 3rd, it will roll out to 11 other countries shortly after.
The move is also anticipated to help solve Netflix’s problem with users sharing passwords with other people.