Netflix subscribers aged 25 to 34 have cancelled their pay-TV services in favor of Netflix’s streaming service, according to a survey of about 250 subscribers conducted by Credit Suisse.

Another nearly 30 per cent of 18-24 year-olds said they are opting for Netflix over cable. The company recently debuted applications that allow the video streaming service to also be accessed on the iPhone and iPad.

“Netflix’s low cost, subscription streaming service (with improving content) is our biggest worry and could become ‘good enough’ for consumers with moderate income and TV usage to use as a substitute for pay TV,” said Credit Suisse’s Spencer Wang.

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