Study shows Netflix subscribers are cord shaving

A new study shows that the number of Netflix customers likely to downgrade their pay TV service in the next six months has doubled to 32% from 16% last year.

The study by The Diffusion Group showed the main reasons for “cord shaving” were because of the cost of the pay TV service and the need to save money.

Netflix, the online video service, has over 23 million customers in the US.