U.S. consumers are using Netflix to watch video content more than any other platform, according to a survey of 2,500 people by financial firm Cowen & Co.
In the survey, Cowen & Co. asked respondents, “Which platforms do you use most often to view video content on TV?” Netflix NFLX, +0.32% came in first with 27% of respondents saying they used the streaming giant most often. Next in line was basic cable with 20%, and broadcast came in third, with 18.1%.
Netflix is an especial favorite with younger viewers, analysts at Cowen & Co. said. Almost 40% of respondents aged 18 to 24 years old said they used Netflix most often to view video content, 23% more than Alphabet-owned GOOGL, +0.83% YouTube, which was second among young respondents.
Even when Cowen & Co. excluded people who had never used cable and those who had dropped their cable subscriptions, Netflix still came in second with 24%, just under basic cable with 26%.
The survey “highlights the importance of Netflix in the home, particularly among millennials,” wrote Cowen & Co. senior research analyst John Blackledge.
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Netflix shares have performed well as the streaming giant gains more subscribers and invests heavily in content, with shares more than doubling in price so far this year. Investors remain bullish about its prospects and are expecting strong results when the company reports its second-quarter earnings on July 16.
The streaming giant released 452 hours of U.S. original programming in the second quarter. That’s an increase of 51% from the second quarter of last year, Blackledge wrote. Among Netflix’s second-quarter