diff --git a/backend/migrations/261_channel_pricing_interval_tier_label.sql b/backend/migrations/261_channel_pricing_interval_tier_label.sql
new file mode 100644
index 000000000000..7e8e6a73d365
--- /dev/null
+++ b/backend/migrations/261_channel_pricing_interval_tier_label.sql
@@ -0,0 +1,5 @@
+-- 260 inserted a long-context pricing interval without tier_label. The column
+-- is nullable, but channel pricing is read as text, so the NULL broke the
+-- channel cache and the admin channel pages. Token intervals store ''.
+UPDATE channel_pricing_intervals SET tier_label = '' WHERE tier_label IS NULL;
+UPDATE channel_account_stats_pricing_intervals SET tier_label = '' WHERE tier_label IS NULL;