Netflix launches $7 a month ad-supported plan — with limits

Netflix is set to launch its advertising-supported streaming plan on Thursday. 

At $7 a month, the new subscription tier costs less than half of Netflix's most basic plan and will include 4 to 5 minutes of ads per hour, the company said. But the plan comes with some limitations. Viewers won't be able to download shows for later viewing, Netflix said. 

In addition, a "limited number" of movies and TV shows won't be available at all on the ad-supported tier, the company said, blaming licensing restrictions and noting that it was "working on" the issue. The Wall Street Journal reported Wednesday that Netflix was still in negotiations with Disney, NBCUniversal, Sony Pictures Television, Warner Bros. Discovery and Lionsgate.