Is This the End of Late Night Television? Has Streaming Ended Late-Night Shows?
A few decades ago, late-night talk shows were television staples, attracting massive audiences and holding a significant cultural sway. However, as the entertainment world shifts to on-demand streaming and social media, the once-dominant late-night format appears to be struggling to keep up. The question now is: Is this the end of late night television?
Recent developments suggest that late-night television is in a period of significant transition. On September 6, NBC's The Tonight Show Starring Jimmy Fallon announced it would scale back its production to four nights a week, swapping Friday's episode for a rerun. This move marks the end of an era where late-night shows were produced five nights a week, with The Tonight Show being the last major program to cut back its schedule. Similarly, NBC's Late Night with Seth Meyers recently eliminated its house band due to budget cuts, and CBS opted to end its Late Late Show after James Corden's departure, replacing it with the less expensive After Midnight comedy game show.
Brad Adgate, a media analyst, reflects on these changes, stating, “It's kind of surprising, because, you know, these late-night variety shows were cash cows for years.” Historically, late-night shows not only attracted younger audiences but were also relatively inexpensive to produce, with higher margins compared to primetime TV. But with the rise of streaming and social media, these shows now face new challenges.
The shift in audience behavior is a key factor. Viewers have increasingly migrated from traditional TV to streaming platforms and social media, where content is available on-demand. Late-night shows maintain a presence on YouTube and TikTok, but the revenue from these platforms doesn't match the costs of production. The aging audience of traditional TV is less appealing to advertisers compared to younger viewers who prefer online content.
The decline in viewership is evident. Five years ago, The Late Show led with 3.81 million viewers, while The Tonight Show and Jimmy Kimmel Live garnered 2.44 million and 2.04 million viewers, respectively. In the 2023-24 season, The Late Show remains on top but with only about 2.6 million viewers—a 32 percent drop from 2018-19. Jimmy Kimmel Live follows with 1.82 million viewers, down 11 percent, and The Tonight Show has fallen to third place with 1.43 million viewers, a 41 percent decrease.
The 12:35 a.m. slot hasn't fared better, with Late Night with Seth Meyers drawing 983,000 viewers, a 32 percent drop from previous years. CBS's After Midnight averaged about 730,000 viewers during its early months.
Financial pressures are also impacting the industry. Last year, Brian Stelter reported that The Late Late Show was losing $15 million to $20 million annually, which likely influenced CBS's decision to cancel the show after James Corden's departure. Reggie Watts, the show's bandleader, highlighted the impact of budget cuts on long-time crew members, underscoring the financial strain on late-night programming.
Networks are exploring new strategies to justify the costs of late-night shows. One approach involves leveraging hosts for additional network duties, such as hosting awards shows or corporate events. Many late-night hosts, including Fallon, Kimmel, and Colbert, also engage in creating and executive producing other programming or branching into different ventures. For example, Fallon is involved in a haunted house experience called “Jimmy Fallon's Tonightmares” being built in New York's Rockefeller Plaza.
Despite efforts by streaming platforms like Netflix and Peacock to develop a successful late-night format with hosts like John Mulaney and Amber Ruffin, finding a winning formula has proven elusive. The success of such ventures remains uncertain.
Reggie Watts aptly summarized the current state of late-night television, saying, “Late night is changing drastically and very, very rapidly.” The genre's ability to adapt to evolving viewer preferences and financial constraints will determine its future. Even Seth Meyers, addressing NBCUniversal's upfront event, noted the tricky time for TV with a touch of humor, suggesting that things could always be worse.
In conclusion, late-night television faces an uncertain future amid the rise of streaming and shifting viewer habits. Whether this marks the end of late-night shows as we know them or if they can evolve and adapt to the new media landscape remains to be seen.
