"Over the top" appears to be taking over.   A recent survey released by Credit Suisse indicates that over-the-top TV and content delivery options like Netflix, along with Hulu and the Microsoft Xbox 360 are becoming strong contenders in the television viewership market.   

After surveying an estimated 250 Netflix subscribers, Credit Suisse found that nearly 40 percent of Netflix subscribers between the ages of 25 and 34, and almost 30 percent of subscribers between 18 and 24 used Netflix streaming services instead of cable or satellite television.   

At a media conference this week, Verizon CEO Ivan Seidenberg predicted that cable is headed in the same direction as the wire line telephone business, according to All Things Digital. 

"Young people are pretty smart. They’re not going to pay for something they don’t need to,” he said. Seidenburg added that “Over the top" is going to be a big issue in the future for the cable industry. I think cable has some life left in its model… but that it is going to get disintermediated over the next several years."

Comcast CFO Michael Angelakis obviously disagrees. "When people say there's cord cutting, we really just don't see it," said Angelakis. "And when we think about cord cutting or the flavor of the day, we look at that as primarily competition to our VOD business, not to our core business."

In addition to the rise of over the top play options like Netflix and Hulu, Google TV and Apple's revamped TV service are expected later this year. It is rumored that Amazon may also have plans for a similar product coming soon.