Netflix is planning to launch an Ads- supported cheaper version at just  $7 in November.

Netflix said on Thursday it will introduce a streaming plan with advertising for roughly $7 per  month in November.

The $6.99 cost for the new “Basic with Ads” plan is $3 less than Netflix’s lowest-priced tier without commercials.

The new option will roll out in 12 countries including the United States, Brazil, Germany, Japan & Korea.

Subscribers to the plan will see roughly 4 to 5 minutes of advertising per hour, Netflix said.

Netflix also assured that newly released films will have limited advertising to preserve the  cinematic experience.

"About 5% to 10% of Netflix’s programming will not be available on the ad-supported alternative because of licensing restrictions", said Netflix COO Greg Peters.

“We at Netflix have a huge opportunity ahead to grow our unit and to attract more subscribers,” Peters added.

He added, " This is a move to attract new subscribers after the company lost customers in the first half  of the year."

The company projected the new plan would add 1 million customers to their platform in the third quarter.