Kimmel Responds to Colbert’s Reported Financial Losses
Jimmy Kimmel rejected claims made on Monday about Stephen Colbert’s “Late Show” losing $40 million annually, labeling the assertion as completely false.
In a chat with Variety, Kimmel stated, “I find the idea that Colbert’s show is losing $40 million a year to be absurd. Those insiders analyzing the budgets really don’t have a grasp of the situation.” He added that many seem to focus only on advertising revenue, overlooking significant affiliate fees that could total hundreds of millions, which would also affect late-night programs.
CBS had disclosed the show’s closure on July 18, attributing the decision to financial aspects, insisting it was unrelated to the quality or performance of the content.
A report from Puck News highlighted that Colbert’s show apparently “lost more than $40 million a year,” noting a budget exceeding $100 million a season, although it was described as “still profitable” compared to CBS’s other programming.
Kimmel expressed skepticism regarding the alleged financial loss. “It’s shocking how much misunderstanding there is in the media about how things function,” he remarked, further emphasizing that the notion of Colbert’s show losing such a sum is implausible. He reflected on past claims about shows being unprofitable despite high viewership, suggesting that the truth might be more complex.
Kimmel also asserted that late-night television isn’t on the verge of extinction. “While network TV is declining, late-night viewership is at an all-time high, potentially even more than during Carson’s era, which might surprise people.”
As of now, Fox News Digital has reached out to CBS’s parent company, Paramount, for comments regarding these developments.
In the realm of viewership, it’s noted that Fox News host Greg Gutfeld’s show, “Gutfeld!”, has been performing notably well, averaging 3.1 million viewers, while Colbert’s “Late Show” managed 1.9 million. Kimmel’s own show gathered about 1.5 million, while NBC’s offerings trailed behind with less viewership.
