CBS announced the cancellation of The Late Show with Stephen Colbert, effective May 2026, marking a significant shift in late-night programming. The decision stemmed from financial considerations in a changing media landscape and was not related to the show's performance or content. Late-night programming as a whole is facing challenges, with streaming outpacing traditional broadcast and cable viewership. Last year saw a 50% decline in ad revenue for these shows compared to 2018, reflecting ongoing struggles within the genre. CBS will not replace Colbert following the cancellation.
CBS has announced the cancellation of The Late Show with Stephen Colbert, effective May 2026, citing financial reasons rather than performance or content issues.
Despite its top ratings for eight years, CBS concluded that having a late-night show was no longer financially viable amid changing media consumption patterns.
Streaming viewership surpassed that of broadcast and cable television for the first time in May, signaling a significant shift in viewer habits affecting late-night shows.
Last year's late-night shows saw a 50% drop in ad revenue, from $439 million in 2018 to $220 million, illustrating the financial struggles in the genre.
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