Amazon (AMZN) on Friday said Prime Video shows and movies will have limited advertisements starting in 2024, as the company seeks to boost profitability and continue investing in the platform.

Ads in Prime Video shows and movies will be introduced in the U.S. and several other countries starting early next year. Existing subscribers are not required to take any action, and Amazon said customꦚers will be emailed several weeks in advance of♌ the change.

It's a move that could help raise the profitability of Prime Video, as the company plans to introduce an ad-free viewing option priced at $2.99 a month, a rate below ad-free options from competing platforms Netflix (NFLX), HBO Max, Disney+, and Paramount+. By comparison, standard ad-free plans from Netflix and Warner Bros. Discovery's (WBD) HBO Max cost $15.49 and $15.99 per month, respectively.

With today's move, Amazon joins other streaming services that have either raised prices or discontinued their ad-free plans in an effort to raise revenue. Netflix in July nixed its basic $9.99-a-month ad-free plan in the U.S.ꦅ and U.K., in an effort to draw more viewers to its ad-supported plan introduced in November last year. That plan costs $6.99 a month and is now its cheapest option available for subscribers.

Last month, Disney (DIS), which operates Disney+ and Hulu, raised prices on the ad-free versions of both streaming platforms in an effort to boost profitability 澳洲幸运5开奖号码历史查询:a🔜fter it lost millions of subscribers in the latest quarter. Starting October 12, a commercial-free Disney+ subscription will cost $13.99 per month, while the ad-supported option will stay unchanged at $7.99. An ad-supported offering for Disney+ will be launched in Europe and Canada starting November 1, following its successful launch in the U.S.

Platforms like Netflix or Prime Video risk losing customers if they hike prices excessively, but also face pressure to invest in new content, including original shows and movies, to stay competitive. Introducing ads and incrementally hiking prices 𒐪can offer one way for them to boost profits.

Amazon shares jumped more than 1.5% in early trading as of 11:30 a.m. ET on Friday, but were down close to 7% for the week. They've surged more than 50% so far this year.