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The total number of pay-TV subscribers, or people who buy cable or satellite TV packages, dropped 4.1% year-over-year last quarter, according to research firm MoffettNathanson.

Expand chart
Data: MoffettNathanson Research; Chart: Chris Canipe/Axios

Why it matters: Cord-cutting seems like an inevitable conclusion to the onslaught of streaming services entering the market today, but last quarter we saw a newer trend which was that Pay-TV losses weren’t offset by cord-cutters signing up for digital "skinny bundles," like Sling TV or YouTube TV.

  • Yes, but: "Given all of the new OTT options available both free and streaming, it’s inevitable that cord cutting is going to start picking up," says Alan Wolk, co-founder and lead analyst at TV[R]EV. "But it’s also important to note that in a market with around 80% penetration, a loss of 1% of the customer base is still a trickle and not the tsunami that so many in the press make it out to be."

Go deeper: On life support: Record number of pay-TV watchers cut the cord

Go deeper

2 hours ago - Health

U.S. surpasses 25 million COVID cases

A mass COVID-19 vaccination site at Dodger Stadium on Jan. 22 in Los Angeles, California. Photo: Mario Tama/Getty Images

The U.S has confirmed more than 25 million coronavirus cases, per Johns Hopkins data updated on Sunday.

The big picture: President Biden has said he expects the country's death toll to exceed 500,000 people by next month, as the rate of deaths due to the virus continues to escalate.

GOP implosion: Trump threats, payback

Spotted last week on a work van in Evansville, Ind. Photo: Sam Owens/The Evansville Courier & Press via Reuters

The GOP is getting torn apart by a spreading revolt against party leaders for failing to stand up for former President Trump and punish his critics.

Why it matters: Republican leaders suffered a nightmarish two months in Washington. Outside the nation’s capital, it's even worse.

Erica Pandey, author of @Work
6 hours ago - Economy & Business

The limits of Biden's plan to cancel student debt

Data: New York Fed Consumer Credit Panel/Equifax; Chart: Axios Visuals

There’s a growing consensus among Americans who want President Biden to cancel student debt — but addressing the ballooning debt burden is much more complicated than it seems.

Why it matters: Student debt is stopping millions of Americans from buying homes, buying cars and starting families. And the crisis is rapidly getting worse.