Netflix’s 15-year run as a completely commercial-free streaming service is coming to an end.

SAN RAMON, Calif. — Netflix will unveil the first version of its video streaming service with ads next month, allowing cost-conscious viewers to watch most of its shows at a steep discount instead of enduring commercial disruptions.

The ad-supported service is set to launch on November 3 as Netflix tries to reverse a decline in subscribers. It will cost $7 per month in the US, a 55% markdown from Netflix’s most popular $15.50-per-month plan, which is ad-free.

Netflix’s ad-supported option will also be introduced in Australia, Brazil, Canada, France, Germany, Italy, Japan, Korea, Mexico, Spain and the United Kingdom. A Thursday post By Greg Peters, the company’s chief operating officer.

In addition to spending about four to five minutes of ads during each hour of viewing, Netflix subscribers who sign up for the cheaper service also won’t be able to download TV shows and movies when their devices are offline. . Peters also said that a “limited” amount of programming available on the commercial-free service will not be on the ad-supported version due to licensing issues.

Netflix’s 15-year-old streaming service has been commercial-free until now, but the Los Gatos, California, company decided to go in a new direction after it was reported six months ago. First loss in subscribers in more than a decade.

The customer attrition exacerbated a sharp decline in its stock price that has wiped out more than $200 billion in shareholder wealth over the past 11 months. Shares rallied after Thursday’s announcement, but have still lost nearly two-thirds of their value since hitting their peak last November, when the streaming service was still growing.

During the first half of this year, Netflix lost 1.2 million subscribers, bringing it down to about 221 million. In July, management predicted it would regain about 1 million of those subscribers over the summer months. The data for the July-September period is due to be released on Tuesday.

Netflix is ​​betting that a lower-cost option with commercials will be especially popular right now. Persistent high inflation It’s putting pressure on millions of households to curb their spending, especially on discretionary items like video streaming. The streaming market also includes Amazon, Apple and Walt Disney Co. is filled with fierce competition from the likes of Whoever is preparing to present. An ad-supported version of its service is coming soon.

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