Want to save $5 on HBO Max? Watch some commercials. New $9.99 ad-supported subscription arrives in June

Worried that your monthly streaming TV bill is growing too fast? HBO Max has a way to help you reduce it by $5: watch commercials.

Coming the first week of June: HBO Max will become available for $9.99 monthly with commercials. Currently, HBO Max with no commercials costs $14.99 monthly.

Both tiers of subscribers will be able to watch all of the content on HBO Max, however, subscribers who pay for the ad-supported version will not have same day access to Warner Bros. films debuting in theaters and on the service, at least through the rest of this year.

HBO Max has announced plans to release all of its 2021 movies – including "Space Jam: A New Legacy" (July 16) – on the service the same day each hits theaters. The movies can be streamed at no extra cost to subscribers and will be on the streaming platform for a month.

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When HBO Max launched in May 2020, parent company AT&T said it planned an ad-supported subscription tier by mid-2021. "HBO Max with Ads will bring our beloved entertainment brands and franchises to even more consumers at this new, lower price point-while, for the first time, elegantly connecting brands to the premium, iconic IP that defines this service,” said Tony Goncalves, executive vice president and chief revenue officer for WarnerMedia, in a statement as part of the announcement Wednesday.

Earlier this week, AT&T said it would combine its media operations including HBO, CNN, TBS and TNT with Discovery (Food Network, HGTV) in a $43 billion deal creating a new separate and as-yet-unnamed media company.

At the end of March, AT&T said it had 44.2 million subscribers in the U.S. for HBO and HBO Max (it does not break out the services) and nearly 64 million worldwide.

HBO Max said the ad-supported subscription level would have "the lightest ad load in the streaming industry, coupled with the most premium content."

Follow Mike Snider on Twitter: @MikeSnider.