Netflix is launching a cheaper package next month as part of efforts to keep subscribers as cost of living pressures mount .

Here's everything you need to know about the much-anticipated Netflix Basic with ads plan and how to sign-up.

How much cheaper is it?

Netflix has been losing customers as streaming channels and entertainment packages compete for subscribers and homes assess more luxurious outgoings in the face of rising household bills.

There has been much talk in recent months, therefore, about a possible Netflix plan with adverts that could lure avid film and television fans in with a cut-price deal, and Netflix says it believes with this new basic package it now has a 'price and plan for every fan'.

Households in the UK will be charged £4.99 a month from November to watch Netflix television shows and films interspersed with adverts - but they will only be available to stream on one device at a time.

The new Netflix Basic plan with ads deal will be £2 cheaper, compared to the most economical monthly packages currently available, and will be open to customers in the UK from November 3, says the streaming service.

How to sign-up

The new monthly package is being introduced to 12 countries including the UK, America, Canada, Mexico and Australia.

New customers will be able to sign-up directly for Netflix Basic with ads while existing customers who want to switch to the cheaper package next month will need to sign into their Netflix account, request to change the plan under 'Plan Details' and select the Netflix package they'd prefer to pay for instead.

How many adverts will there be?

There will be an average of around four minutes of ads per hour, says Netflix. Adverts may be as long as 30 seconds each however, depending on the title you're watching.

Like other channels which stream ads, viewers won't be able to skip or fast forward through the commercials but you can pause playback during an ad if you wish.

What about children's profiles?

Adverts won't be shown on children's profiles, Netflix has confirmed, and only before or between films and television shows. And in good news for gamers, ads are only being shown around television shows and movies - there will be no adverts attached to Netflix games either.

Anyone says Netflix, who decides they don't like watching its shows with adverts, will need to switch back to one of the more expensive packages in order to have them taken off.