The cancellation of The Late Show with Stephen Colbert has sent shockwaves throughout the TV industry, as many have discussed what it indicates about the future of late night. On a more micro scale, many have expressed disapproval of CBS' decision to axe the long-running program. The network attributed the move to “financial” reasons and, since then, it’s been alleged that Colbert’s talk show has been losing millions of dollars a year. Now, Jimmy Kimmel is sharing his two cents about the monetary-related chatter.
Per sources, the purported financial problems that The Late Show has been experiencing are due to diminishing advertising revenue. It was reported by CNN that the late-night talk shows across all the major networks brought in $220 million, which is significantly less than the $439 million they reportedly earned in 2018. When it specifically comes to Stephen Colbert’s show, it’s been alleged that the production was losing the Eye network $40 million a year. (To be clear, CBS hasn’t released any concrete financial figures.)
