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Data: MoffettNathanson Research; Chart: Axios Visuals

Cord-cutting hit a record high last quarter as shuttered businesses began letting go of their cable and satellite bills.

Why it matters: Until now, cord-cutting was mostly a consumer household-focused phenomenon.

Be smart: “Businesses have the same motivations to cut the cord as consumers – content and cost," said David Wiesenfeld, chief strategist at Tru Optik.

  • "When restaurants and bars begin to reopen, cutting the cord is the easiest way to offset lost revenue and reduce operating costs while also meeting the demands of their customers.”

By the numbers: Traditional Pay TV subscriptions fell by 1.8 million in Q1, the worst quarterly result on record, according to research firm MoffettNathanson.

  • "At 63% of occupied households, traditional Pay TV penetration has reached a level not previously seen since roughly 1995," per analysts Craig Moffett and Michael Nathanson.

Go deeper

Trump impeachment trial to start week of Feb. 8, Schumer says

Senate Majority Leader Chuck Schumer. Photo: The Washington Post via Getty

The Senate will begin former President Trump's impeachment trial the week of Feb. 8, Majority Leader Chuck Schumer announced Friday on the Senate floor.

The state of play: The Senate majority leader announced the schedule after reaching an agreement with Republicans. The House will transmit the article of impeachment against the former president late Monday.

1 hour ago - Health

CDC extends interval between COVID vaccine doses for exceptional cases

Photo: Joseph Prezioso/AFP via Getty

Patients can space out the two doses of the coronavirus vaccine by up to six weeks if it’s "not feasible" to follow the shorter recommended window, according to updated guidance from the Centers for Disease and Control and Prevention.

Driving the news: With the prospect of vaccine shortages and a low likelihood that supply will expand before April, the latest changes could provide a path to vaccinate more Americans — a top priority for President Biden.

Texas AG sues Biden administration over deportation freeze

Texas Attorney General Ken Paxton speaks to members of the media in 2016. Photo: Alex Wong/Getty Images

Texas Attorney General Ken Paxton is suing the Biden administration in federal district court over its 100-day freeze on deporting unauthorized immigrants, and he's asking for a temporary restraining order.

Between the lines: The freeze went into effect Friday, temporarily halting most immigration enforcement in the U.S. In the lawsuit, Paxton claims the move "violates the U.S. Constitution, federal immigration and administrative law, and a contractual agreement between Texas" and the Department of Homeland Security.