Colbert’s Exit: Money, Politics, and the TV Business

Late-Night Landscape Shifts as Colbert’s Show Nears End, Trump Celebrates

New York, NY – The world of late-night political satire is bracing for a significant change as Stephen Colbert‘s “The Late Show” is set to conclude its run next May. This development, detailed in a recent report, marks a potentially seismic shift in the media ecosystem, with commentators lamenting the shrinking space for daily comedic commentary.The departure of “The Late Show” has drawn a sharp reaction from former President Donald Trump. Trump, who has previously called for CBS to terminate colbert’s contract, took to Truth Social to express his satisfaction. “I absolutely love that colbert got fired,” Trump posted. “His talent was even less than his ratings.”

The article also raises questions about CBS’s cost-saving strategies. Experts have pondered whether alternative measures could have preserved Colbert’s show, pointing to NBC’s cost-cutting on seth Meyers’ band and Jimmy Fallon’s “Tonight Show” being reduced to four nights a week. the decision to let Colbert’s show run until next May, creating a “lame duck” period, is also being scrutinized, though CBS would likely have continued to pay Colbert irrespective.

The cancellation of “After Midnight,” the show that followed “The Late Show,” further signals a broader shift at CBS. Bill Carter, author of “The Late Shift,” noted that CBS had initially indicated a willingness to continue “After Midnight” until host Taylor Tomlinson decided to depart.Andy Cohen, host of Bravo’s “Watch What Happens Live,” expressed his disappointment, stating, “It is a very sad day for CBS that they are getting out of the late-night race. I mean,they are turning off the lights after the news.”

Industry insiders suggest that Colbert could likely find a platform on a streaming service if he wished to continue, but the future of late-night comedy on traditional broadcast networks appears uncertain. The article notes that Trump may potentially outlast some of his moast vocal comedic critics. Jon Stewart, a former staple of weeknight television, now appears only once a week on “the Daily Show” for Comedy Central.

Meanwhile, ABC’s Jimmy Kimmel, whose contract also expires next year, has faced public commentary from Trump, who tweeted, “I hear Jimmy kimmel is next.” Kimmel himself has expressed ambivalence about the longevity of his career, admitting in a 2022 Variety interview, “I have moments where I go, I cannot do this anymore. And I have moments where I go, what am I gonna do with my life if I’m not doing this anymore? It’s a very complicated thing… I’m not going to do this forever.”

Colbert, Kimmel, and Stewart were all recognized with Emmy nominations this week, underscoring their continued impact in the comedic commentary space, even as the landscape around them undergoes significant transformation.

This report was compiled with contributions from AP journalist Liam McEwan in Los Angeles. David Bauder covers media and entertainment for the AP.

How will declining ratings and advertising revenue impact CBS’s financial risk tolerance when selecting stephen Colbert’s replacement?

The Late Show Succession Plan & Financial Implications

Stephen Colbert’s impending departure from The Late Show in 2025 marks a pivotal moment, not just for late-night television, but for the broader media landscape. The transition raises critical questions about the future of the format, the influence of political polarization, and the evolving economics of network television. While a successor hasn’t been officially named as of July 19, 2025, the search highlights the challenges facing all late-night shows in attracting and retaining audiences.

Declining Ratings: Traditional late-night viewership has been steadily declining for years, impacted by streaming services, social media, and changing viewing habits.

Advertising Revenue: Lower ratings directly translate to reduced advertising revenue, the lifeblood of network television. This impacts the budgets available for talent and production.

Succession Planning: Finding a host who can appeal to a broad audience while navigating the increasingly charged political climate is a critically important hurdle.

The Political Landscape & late Night’s Role

Colbert’s tenure was defined, in part, by his pointed political commentary, notably during the Trump presidency. This approach resonated with a specific demographic but also contributed to the growing perception of late-night as a politically partisan space.

The Polarization Effect

The increasing polarization of the American electorate has made it harder for late-night hosts to appeal to viewers across the political spectrum.

Audience Fragmentation: Viewers are increasingly seeking out media that confirms their existing beliefs, leading to audience fragmentation.

Backlash & Controversy: Political jokes and commentary inevitably draw criticism and controversy, potentially alienating segments of the audience.

The “Safe” Approach: Networks may be hesitant to hire hosts who are perceived as overly controversial, opting for a more neutral approach – a strategy that risks sacrificing the edge that often defines the genre.

The economics of Late Night in the Streaming Era

The rise of streaming services has fundamentally altered the television business model. late-night shows are no longer solely reliant on traditional broadcast revenue.

Revenue Streams Beyond Advertising

Streaming Rights: Selling streaming rights to platforms like Paramount+ (where The Late Show currently resides) provides an additional revenue stream.

Digital Content & YouTube: Clips and full episodes on YouTube generate views and advertising revenue. A strong digital presence is crucial for attracting younger audiences.

Merchandise & Live Events: Hosts can supplement their income through merchandise sales and live performances.

syndication: While less lucrative than in the past, syndication remains a potential revenue source.

The Cost of Talent

Top-tier late-night hosts command substantial salaries. Colbert’s reported annual salary was in the $15 million range. Networks must carefully weigh the potential return on investment when considering a new host. the financial risk is amplified by the declining ratings trend.

Case Study: Jon Stewart’s Departure & The Daily Show’s Evolution

The 2015 departure of Jon Stewart from The daily Show offers a valuable case study. Stewart’s successor,Trevor Noah,faced the challenge of filling enormous shoes and navigating a changing political landscape. While Noah maintained a loyal audience, The Daily Show never reached the same heights of cultural influence under his leadership. This illustrates the difficulty of replicating a successful formula and the importance of finding a host who can connect with a new generation of viewers. The recent announcement of a rotating host model for The Daily Show further demonstrates the network’s uncertainty about the future of the format.

The Future of The late Show & Late Night TV

The search for Colbert’s replacement will be closely watched by the entire television industry. The outcome will likely shape the future of late-night television for years to come.

Potential Host Profiles

Established Comedians: Names like Hasan Minhaj and Roy Wood Jr. have been frequently mentioned as potential contenders.

Rising Stars: Networks may look to identify emerging comedic talent with a strong online presence.

The “Non-traditional” Host: There’s a possibility of a host who doesn’t fit the traditional late-night mold, potentially drawing a wider audience.

Key considerations for CBS

CBS will need to consider several factors when making its decision:

1. Political Alignment: How much political commentary will the network allow?
2. Demographic appeal: Who is the target audience?
3. digital Strategy: How will the new host leverage digital platforms?
4. Financial Sustainability: Can the show remain profitable in the long term?

The challenges facing late-night television are significant, but the format remains relevant. A successful successor to Stephen Colbert will need to be a talented comedian, a sharp political observer, and a savvy digital strategist. the future of The late Show* – and late night as a whole – depends on it.