The Town with Matthew Belloni Colbert Is Cancelled. Is the Late-Night Dam Bursting?
66 snips
Jul 19, 2025 
Nick Bernstein, a veteran late-night executive, shares insider insights on the surprising cancellation of 'The Late Show With Stephen Colbert', despite its top ratings. He discusses the intricate balance of economics and politics in this decision, as CBS navigates merger challenges. Bernstein highlights the financial struggles of late-night programming, the impact of evolving viewer habits, and the role of streaming in reshaping comedy. This engaging conversation explores the uncertain future of late-night television and what it means for hosts and the industry.
AI Snips
Chapters
Transcript
Episode notes
Colbert's Cancellation: Economics Over Politics
- CBS canceled "The Late Show with Stephen Colbert" mainly due to declining economics in late night TV.
- Political involvement may have influenced timing but economic reasons remain primary.
Late Night Economics Explained
- Late night shows are expensive with The Late Show costing over $100 million annually.
- Despite high costs, ad revenue dropped by 50%, making profitability difficult.
Contract Timings Shape Decisions
- Contract negotiations for late night hosts usually occur a year before expiration.
- This timing explains why discussions about Colbert's future happened now.