By DAVID BAUDER
CBS says its decision to end Stephen Colbert’s late-night comedy show is monetary, not political. But even with the ample skepticism about that clarification, there’s no denying the economics weren’t working in Colbert’s favor.
The community’s bombshell announcement late Thursday that the “Late Present” will finish subsequent Might takes away President Donald Trump’s most distinguished TV critic and the preferred leisure program in its style.
The tv business’s declining financial well being means comparable onerous calls are already being made with personalities and programming, with others to be confronted sooner or later. For the late-night style, there are distinctive elements to contemplate.
As not too long ago as 2018, broadcast networks took in an estimated $439 million in promoting income for its late-night packages, based on the promoting agency Tips. Final yr, that quantity dwindled to $220 million.
As soon as a draw for younger males, now they’ve turned away
Late-night TV was a selected draw for younger males, thought of the hardest-to-get and most dear demographic for advertisers. More and more, these viewers are turning to streaming providers, both to look at one thing else totally or catch highlights of the late-night reveals, that are harder for the networks to monetize.
Extra broadly, the much-predicted takeover of viewers by streaming providers is coming to move. The Nielsen firm reported that during the last two months, for the primary time ever, extra folks consumed programming on providers like YouTube and Netflix than on ABC, CBS and NBC or any cable community.
Networks and streamers spent roughly $70 billion on leisure reveals and $30 billion for sports activities rights final yr, stated Brian Wieser, CEO of Madison & Wall, an promoting marketing consultant and knowledge providers agency. Stay sports activities is probably the most reliable magnet for viewers and prices for its rights are anticipated to extend 8% a yr over the following decade. With tv viewership declining normally, it’s clear the place financial savings must come from.
Wieser stated he doesn’t know whether or not Colbert’s present is worthwhile or not for CBS and father or mother firm Paramount World, however he is aware of the course during which it’s headed. “The economics of tv are weak,” he stated.
In a press release saying the cancellation, George Cheeks, Paramount World’s president and chief govt officer, stated that “That is purely a monetary resolution in opposition to a difficult backdrop in late evening. It isn’t associated in any method to the present’s efficiency, content material or different issues occurring at Paramount.”
Cheeks’ downside is that not everybody believes him.
Colbert is a relentless critic of Trump, and earlier this week pointedly criticized Paramount’s decision to settle Trump’s lawsuit in opposition to CBS over a “60 Minutes” interview with Kamala Harris. He referred to as Paramount’s $16 million cost to Trump a “large fats bribe,” for the reason that firm is searching for the administration’s approval of its merger with Skydance Media.
On Friday, the Writers Guild of America referred to as for an investigation by New York’s legal professional common into whether or not Colbert’s cancellation is itself a bribe, “sacrificing free speech to curry favor with the Trump administration as the corporate appears to be like for merger approval.”
CBS’ resolution made this a pivotal week for the way forward for tv and radio programming. Congress stripped federal funding for PBS and NPR, threatening the way forward for reveals on these shops.
Journey Gunderson, govt director of the Nationwide Comedy Heart, referred to as the choice to finish Colbert’s present the tip of an period.
“Late-night tv has traditionally been one in every of comedy’s most audience-accessible platforms — a spot the place commentary meets group, evening after evening,” Gunderson stated. “This isn’t simply the tip of a present. It’s the quiet removing of one of many few remaining platforms for day by day comedic commentary.
Trump celebrates Colbert’s demise
Trump, who has referred to as prior to now for CBS to terminate Colbert’s contract, celebrated the present’s upcoming demise. “I completely love that Colbert obtained fired,” the president wrote on Reality Social. “His expertise was even lower than his rankings.”
Some specialists questioned whether or not CBS may have explored different methods to economize on Colbert. NBC, for instance, has reduce prices by eliminating the band on Seth Meyers’ late-night present and curbing Jimmy Fallon’s “Tonight” present to 4 nights per week.
May CBS have saved extra money by chopping off the present instantly, as a substitute of letting it run till subsequent Might, which units up an ungainly “lame duck” interval? Then once more, Colbert will hold working till his contract runs out; CBS would have needed to hold paying him anyway.
CBS not too long ago cancelled the “After Midnight” present that ran after Colbert. However the community had signaled earlier this yr that it was ready to proceed that present till host Taylor Tomlinson determined that she needed to depart, famous Invoice Carter, creator of “The Late Shift.”
“It’s a very unhappy day for CBS that they’re getting out of the late-night race,” Andy Cohen, host of Bravo’s “Watch What Occurs Stay,” informed The Related Press. “I imply, they’re turning off the lights after the information.”
Colbert, if he needed to proceed previous subsequent Might, would doubtless be capable of discover a streaming service prepared to pay him, Wieser stated. However the way forward for late-night comedy on the leisure networks is genuinely in danger. Trump, in truth, might outlast his fiercest comedian critics. Jon Stewart, as soon as a weeknight fixture, works one evening per week at “The Day by day Present” for Paramount’s Comedy Central, a community that seldom produces a lot unique programming any extra.
ABC’s Jimmy Kimmel, who was chided on social media by Trump on Friday — “I hear Jimmy Kimmel is subsequent” — has a contract that additionally runs out subsequent yr. Kimmel, 57, overtly questioned in a Selection interview earlier than signing his newest three-year contract extension how lengthy he needed to do it. He’s hosted his present since 2003.
“I’ve moments the place I am going, I can not do that anymore,” Kimmel informed Selection in 2022. “And I’ve moments the place I am going, what am I gonna do with my life if I’m not doing this anymore?’ It’s a really sophisticated factor … I’m not going to do that ceaselessly.”
Colbert, Kimmel and Stewart had been all nominated for Emmy awards this week.
AP journalist Liam McEwan in Los Angeles contributed to this report. David Bauder writes concerning the intersection of media and leisure for the AP. Observe him at http://x.com/dbauder and https://bsky.app/profile/dbauder.bsky.social.
Initially Revealed:
