The Financial Struggles of Late-Night Television

Even before the cancellation of 'The Late Show With Stephen Colbert,' the business of comedy was changing rapidly. Twenty years ago, comedians aspired to be late-night hosts, or to star in movies, or to have their own sitcoms. But in 2025, late-night shows are going extinct, adult comedies in Hollywood are a thing of the past, and popular sitcoms are so rare these days that Gen Z viewers are still watching 'The Office' and 'Friends.' Instead, many comedians rightly recognize that they can make more money as solo acts. In comedy, as in much of our culture, the age of institutions is giving way to an age of individuals talking to individuals.

Lucas Shaw, a reporter for Bloomberg and frequent commentator on the Town podcast, joins the show to talk about the cancellation of 'The Late Show With Stephen Colbert' and what it says about the history and the future of comedy and media. We also talk about the death of adult comedies, the retreat of sitcoms on TV, why comedy as a field is becoming more of a solo business—and what that says about entertainment culture more broadly.

If you have questions, observations, or ideas for future episodes, email us at PlainEnglish@Spotify.com.

Host: Derek Thompson

Guest: Lucas Shaw

Producer: Devon Baroldi

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