Canadian broadcasters and other content carriers take note: around 37% of American Netflix subscribers between 25 and 34 years-old substitute the video streaming and DVD rental service for a cable or satellite TV package, according to a new Credit Suisse poll and industry study.

That should be sobering news considering Netflix co-founder and CEO Reed Hastings will be in Toronto Wednesday to unveil details on Netflix Canada, an upstart online video subscription service that has local video streaming players raising their game to guard against cord cutters and other Canadians no longer needing a cable or satellite TV package to download movies and TV shows into their living rooms via their computers.

“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,” Credit Suisse’s Spencer Wang concluded in a 50-page report on the U.S. TV industry.

Hastings is expected to price monthly video streaming access to the Netflix catalog by Canadians.

That catalog now includes content from Epix, an upstart cable TV channel partly owned by Lionsgate as the Vancouver-based mini-studio looks to distribute as much of its content across as many digital platforms as possible.

Other U.S. video streaming players like Apple TV and Boxee are waiting in the wings to enter the Canadian market, which helps explain recent blockbuster deals BCE picking up CTV and Shaw Communications acquiring Canwest Global Communications Corp., and pay TV services Movie Central and The Movie Network launching HBO Canada.

The aim is to discourage subscribers from dropping their carrier subscriptions by offering more video content they will pay for or receive for free, even if the same hot movies and TV series may eventually show up on Netflix Canada, iTunes Canada and other digital platforms.