Is Netflix also introducing Ads like YouTube?

Netflix announced “Basic with Ads”, a new, more affordable subscription package that would feature advertisements for the first time.
The ad-supported package will initially be available in 12 countries. The company has named it Basic with Ads and it will first be available in Australia, Brazil, Canada, France, Germany, Italy, Japan, Korea, Spain, UK and US from November.
The company said that people taking up this package will be able to watch 720 pixels/HD video while 4 to 5 minutes of advertisements will be shown every hour.
Similarly, these users will not be able to download videos from the app while they will have access to limited movies and TV shows.
The price of this package will be different in each country like 7 dollars in the USA, 6 dollars in Canada and 4 euros in the UK.
According to the company, this update will be rolled out in other countries in the coming months.