Netflix is ??reportedly planning to introduce a new ad-supported subscription option, Variety reports citing industry sources.

The ad-supported version will reportedly launch on November 1 in many countries including the US, Canada, UK, France and Germany.

Netflix with ads will reportedly cost between $7 and $9 per month, roughly half of the company's standard rate, which costs $15.50 per month. Ads will not appear during children's shows, Bloomberg previously reported, and subscribers will not be able to download content to watch offline.

In April, after Netflix reported its first subscriber loss in a decade, CEO Reed Hastings revealed the company was looking to introduce a cheaper, ad-supported version after years of rejecting ads.

The changes come amid so-called "streaming wars" caused by other options for consumers, including Apple TV Plus, Disney Plus, HBO Max, Peacock and Paramount Plus.

A Netflix spokesman said the company is "still in the early days of deciding how to launch a lower-priced, ad-supported version," adding that "no decision has been made."